Thursday, April 21, 2022

The Supreme Court Just Hit Blue State With Devastating Decision On Trump Era Tax Cuts - enVolve

https://en-volve.com/2022/04/21/the-supreme-court-just-hit-blue-state-with-devastating-decision-on-trump-era-tax-cuts/

So, Democrats in Congress are struggling to find a different way to deal with the problem and are trying to pass a bill to deal with it, as Fox reports, saying:

The current Democrat-controlled House passed a bill in 2021 that would temporarily raise the cap to $80,000 until 2031, when it would go back to $10,000.

The Senate has yet to take action on the bill, although a separate plan in the Senate led by Sen. Bernie Sanders, I-Vt., would cap the tax break by income, making it unlimited for individuals earning about $400,000 and phasing it down above that amount,. Republicans have criticized the bill, saying it would disproportionately benefit ultra-wealthy Americans in blue states.

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