Pelosi pushes 'SALT shakeup' stimulus that could reduce her tax bill and enrich her wealthy district
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House Speaker Nancy Pelosi, D-Calif., is pushing for a new stimulus bill that would roll back the state and local tax deduction (SALT), a measure that would predominately help wealthy individuals making more than $100,000 -- including most residents in Pelosi's district and perhaps even Pelosi herself.
The top Democrat specifically declared this week it might be wise to “retroactively undo SALT,” which was enacted as part of the 2017 tax cuts and prevents households from deducting more than $10,000 per year of their state and local tax expenditures from federal tax bills. A Pelosi spokesperson said that a SALT drawdown would be “tailored to focus on middle-class earners and include limitations on the higher end.”
Pelosi and her husband have a property tax liability of approximately $198,337.62 considering their two homes, a winery and two commercial properties, public records show, indicating that the couple could reap benefits on roughly $188,000 given a full SALT repeal.
Pelosi's 2020 property taxes in Washington, D.C. totaled $13,997.20 given her Georgetown condo and garage, valued at $1,646,730.
Her San Francisco property taxes totaled $51,480.02, plus $47,631.98 from her Napa winery, $64,874.66 from a San Francisco commercial property, and $20,353.76 for another building.
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Lots of numbers there...
Do the winery, the "commercial property" and the "other building" even apply to her personal income taxes? Or are they businesses, investment properties and such?
And if you don't know.... well, that would be my point.
"When you have a shared vision it is a lot easier to make unpopular decisions." - Paul DePodesta "When you win, say nothing. When you lose, say less." - Paul Brown Complete 2017 Browns Board Mock: http://thebrownsboard.com/forums/index.php?showtopic=46196 -
Lots of numbers there...
Do the winery, the "commercial property" and the "other building" even apply to her personal income taxes? Or are they businesses, investment properties and such?
And if you don't know.... well, that would be my point.
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I do that before I post...
Guess you had no answer.
"When you have a shared vision it is a lot easier to make unpopular decisions." - Paul DePodesta "When you win, say nothing. When you lose, say less." - Paul Brown Complete 2017 Browns Board Mock: http://thebrownsboard.com/forums/index.php?showtopic=46196
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