Democrats in the U.S. House of Representatives may have been stuck in their districts because of the coronavirus but Speaker Nancy Pelosi has been working hard on their behalf. On Tuesday she introduced the next in what’s getting to be a long line of COVID relief bills that, true to form, is loaded with tax and spending increases. (RELATED: Democrats Rally Around Recurring $2K Monthly Relief Checks)
According to a quick but probably not definitive analysis of what she’s calling The Heroes Act by the good folks at Americans for Tax Reform, the Pelosi bill:
- Extends the $600 per week FPUC supplemental unemployment added to state and federal through January 31, 2021, extended it beyond the original July 25, 2020 termination date by 27-weeks.
- Provides an additional cash payment of $1,200 per individual dependent, up to a maximum of three dependents, until it begins to phase out at $75,000 per individual in annual income or $150,000 for married couples.
- Expands the Earned Income Tax Credit
- Expands the Child Tax Credit through an advance refundable credit of up to $3,600 for children under 6 and $3,000 for children 6 or older.
- Expands the child/dependent care credit for 2020 above the currently allowable credit taken against 35 percent of expenses reduced by 1 percent for every $2,000 over $15,000 in adjusted gross income by modifying it to 50 percent of expenses reduced by 1 percent for every $2,000 over $120,000 in AGI.
- Doubles maximum credit amount from $3,000 for one qualifying dependent, $6,000 for two or more qualifying dependent and makes it refundable.
- Allows $2,750 in FSA funds to be carried forward to 2021.
- Increases the above the line deduction for elementary school and secondary school teachers from $250 to $500.
- Creates $500 above the line deduction for first responders for uniforms, tuition, and fees.
- Creates a temporary above the line deduction for employees on the “front lines” of the COVID crisis for uniforms, supplies, and equipment for 2020.
- Provides a payroll tax credit for pandemic related employee benefit expenses, limited to payments of $5,000 per employee, per quarter.
- Expands the employee retention credit created by the CARES Act. Currently, businesses are allowed a payroll tax credit against 50 percent of qualified wages up to $10,000 in wages per quarter. The new legislation would expand this to 80 percent of wages up to $15,000 per quarter, not to exceed $45,000 in annual wages.
- Extends payroll credits for paid sick leave/paid family leave for COVID-19 expenses to 2021.
The new Pelosi bill also bails out her political allies, whether they be the cashed strapped, heavily indebted blue states like California, New York, and Illinois or cities like Baltimore, Los Angeles, and Philadelphia or her wealthy coterie of San Francisco sophisticates who probably also have freezers full of designer ice cream.
First off, she’s calling for $500 billion in funding to assist state governments with the fiscal impacts from the public health emergency caused by the coronavirus, followed by $375 billion in funding to assist local governments. Then she wants $20 billion to assist Tribal governments, $20 billion for the governments of the Territories, and an additional $755 million for the District of Columbia.
But the biggest kick of all is the two-year suspension — for 2020 and 2021 — of the elimination of the cap on the deductibility of state and local taxes on federal tax returns. That deduction, called SALT by the tax policy experts, helps ease the burden of living in high cost, high tax states like California while increasing the total burden of the federal budget sitting on the shoulders of low tax and no tax states like South Dakota, Texas, Tennessee, and Florida. To put it another way, it’s a way to get the red states to pay for the upgraded standard of living enjoyed by blue voters in blue states. (RELATED: Official Berates Elon Musk for Threatening to Leave California Over Lockdown)
Congress and President Donald Trump capped the deductibility of SALT in the Tax Cut and Job Acts, making everything fairer to all. Pelosi wants to undo that permanently, which is probably why her proposed suspension lasts two years — which she figures is enough time for a Biden administration to get repeal through a Democratic Congress. What’s especially galling is how no one is going to call her out on how she and her husband will personally benefit if the cap is lifted. The Pelosis stand to save a lot of money if the SALT cap comes off while many of the rest of us end up paying more. Didn’t she recently call a scheme like that where an elected official stood to profit personally from political action they’d proposed or undertaken an impeachable offense?
READ NEXT: Cashing in on the COVID Crisis >>
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Peter Roff is affiliated with several Washington, D.C. public policy organizations and is a former U.S. News and World Report contributing editor who appears regularly as a commentator on the One America News network. He can be reached by email at [email protected]. Follow him on Twitter @PeterRoff.
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The destruction of our nation by giving FREE stuff to anyone who they think will vote for them. And what will be the end results?????? Hyperinflation with the destruction of our dollar. They WANT that so the elite ONE WORLD ORDER can take over, after taking our rights freedoms and our guns. And why? Because these rich powerful, truly want to control the world. The Bible prophesied about them as they will be headed by the BEAST who will be the ANTICHRIST. God help us.
Stop Pelosi. America needs to get back to work. No new spending Nancy.
Maria the assholes in her district will still be voting for the moron 5 years after she’s dead.
And probably 5 years after they are dead.
She also extends the benefit to Illegal, and suspends deportation of Illegal.
She is right: don’t let a crisis pass by without taking advantage of it
I agree but these Democrats seem to do whatever they want and do the exact same thing they criticize Republicans of doing.
Democrat Pelosi intends to use the rejection of this stimulus bill as a weapon against Republicans this fall. Tens of Millions of Amercans are suffering the effects of the shutdown caused by the Coronavirus. Pelosi new Mitch McConnell would veto her bill and give Dems the ammunition they’ve been looking for to dump Trump. Instead of marking up the bill quietly for debate in the Senate, the Gobbler from Kentucky made a foolish public announcement that the bill is DOA. McConnell never was a Trump supporter and he certainly didn’t do Trump any favors by this action. The solution lies elsewhere. Shut down Wall Street. Restore Glass-Steagall. Separate the banks and restore the firewall between Wall St. investment banks and Commercial banking. Next create a Credit system, returning the power of lending, money printing and interest rates to the US Treasury. Next authorize the creation of a Third National Bank of the United States. This is what First Treasury Sec. Hamilton did as a source of government directed credit for manufacturing, science, education and publc works.
Then direct needed credit into the physical economy. Our agro-industrial sectors are in desparate need of credit and parity pricing. We need to modernize existing infrastructure and create new ones. US Healthcare is obviously one that is in great need. To that end, Repeal the HMO Act and return to the patient based Hill Burton Community Hospital system. Last but not least our nation needs science driver missions that effectively spin off new technoligies into the private sectors of our economy. Lood to Apollo program to get an idea of the 10 to 1 benefits for every dollar spent on the space program. Artemis Moon-Mars mission must be fully funded while a commercial Fusion crash program is set into motion that will put American on course of a fusion based economy as well as fusion rocket propelled spacecraft.
Sir, I wish you would send this information to the President. It is’nt hard to do.
wake up america this is a way to control ur liberties (history pls: china, cuba, venezuela, russia…etc), don’t be fooled by pelosa’s menu…it will totally destroy our economy for sure.. she cant even take care of her district
Amen you said it all.
NOOOOOOO Nancy! Stop spending We The Peoples money and collapsing our economy! Enough of your fraudulent ways.!!!
Will republicans stand firm? ????
I sure hope so.
They better have a STEEL SPINE A STRONG PAIR and their heads clear and UNITED!
the Democratic Party is insane,
Yes they are
we need to take back the house or america is in trouble…we control house rep, senate and WH things will get done new gov by the people for the people will arise…
You are so right. Make 2020 RED
They had all 3 and did nothing
That is because of Paul Ryan…he hates Trump and did everything he could to hurt Trumps Presidency…He was the speaker of the house and had all the power…he chose to use his power against Trump…Ryan is a traitor to his own party…blame the first to wasted years on him…not Trump !!
Drunken Nancy “We have to pass it to see what’s in it” Pelosi IS a historically “BAD DECISION”.
Does Pelosi know anything about governing and fiscal responsibility? Please end her reign of terror! Implement term limits, anything to send her arse back to San Fran and her freezer full of ice cream! She’s a real dilly bar!
Actually, i don’t think any Dem has a clue.
Pislosi will give you anything to stay in power and replace the Whitehouse live ins with democrooks, but if they get in,” THEY WILL TAX YOU TO DEATH FOR THEIR BENEFIT”, you WILL regret them getting the power back, you can bet on that
The parasitic don’t care.
I hope Trump vetos it as it will help out all the blue states and my red state would end up going broke pay them. We don’t need anymore stimulus checks.
Trump won’t have to veto it, the bill will never make past the Senate.
Don’t count on it. Republicans rarely stick together and, except for President Trump, will raise your taxes ! And get re elected for doing it.
They hope one way to get control is to raise the debt to unsustainable and the minions don’t care as long as they get their freebies but what happens when they don’t? They become expendable like all totalitarian countries.
Nancy makes a lot of bad decisions. Most of them are terrible for the nation and the American people. The best decision she could now make would be to resign and retire to a rest home.
“Pelosi Makes Historically Bad Decision”
She makes one every morning when she wakes up and puts her feet on the floor.
I realize she can’t stay in bed all day, but she could resign, go back to California and do the lockdown thing for the rest of her life. That would be the best thing she could ever do for the country.
Were any of her decisions Historically GOOD?
Polosi is nothing more than a parasite and a leech who would suck your hand earned money from you and then suck out your last drop of blood then throw you under the bus cause you can’t do her bidding anymore and those who think she’ll lead them to a better life ain’t going to happen once she got everything that you have she’ll feed you to the dogs therefore she’ll leave you as poor as the poorest out there. Those out there who say that they’re going to vote for her better think twice she can care bs about so people please wiseup
Polosi is nothing more than a parasite and a leech who would suck your hand earned money from you and then suck out your last drop of blood then throw you under the bus cause you can’t do her bidding anymore and those who think she’ll lead them to a better life ain’t going to happen once she got everything that you have she’ll feed you to the dogs therefore she’ll leave you as poor as the poorest out there. Those out there who say that they’re going to vote for her better think twice she can care bs about so people please wiseup now they say I said. this before and they won’t post this ,this is how they stop people from freedom of speech I never go on line to leave a reply except for the first time I decide to send a reply you accuse me of saying it already
The house Democrats are not without blame. They will never go against her. That is why she is still Speaker. She, with her rich backers will make sure they don’t get any money again and who knows they may end up accidentally dead.
Only 2 people in the photo are smiling. Typical of liberals, always upset, never happy – even when giving out other people’s money!
Pelosi is one of the worlds biggest blunders, who happens to be a U.S. Citizen. Is there any country who would take her off our hands, we are ready to bargain, how about a half glass of muddy water, and you can have her.
where in the heck does she think this money is going to come from this nation is so deep in dept right now that our great great grand children are still going to be paying for this spending God help us if the democrats get back in the white house and take over congress because we will lose all our rights and subject to be on par with some third world countries[Trump 2020]
Think about it, the House imbeciles created this plan, the morons of the Democratic socialist workers Party. They run unemployment and biggest stimulus checks ever till after the elections? Why, for our safety not a fixed election? Ok, let’s say the Democratic communist party destroys Trump which is the communist style strategy goal, what is left fir the Democratic dictator in money to run this border less country after countless more Undocumented with kids arrive to collect welfare with us. Look, right now the truth of the Russian Collusion scheme has be3n uncovered, has one of our 98% propaganda news outlets reported it, nope.
Pelosi just loves to spend other peoples money. Seems to me that the American taxpayer should be able to vote on some of these spending bills. She could donate some of her millions!!!!!
There is something wrong were trillions in debt by our governments own doing. They are still propping up the illegal problems why? If you look where the Covid-19 has hit you will be surprised. S. California to the north Washington state and Alaska N East the state of New York. To the south East Florida. What used to be the grass lands of this nation is Covid-19 free. Before the virus hit Chinese and Russian aircraft were seen in our air space. California and Alaska. These breaches of air space are on record. One would ask themselves how all walks of life contracted the virus unless it was cloud seeded. This assenine debotchery of the way they are giving away our money is incredible. Instead of using that money to deport illegals they continue to prop them up ? We still have the $32 billion a year problem to feed and house these degenerates. You have to ask yourself why. Americans are homeless and going without food. They continue to give away our countries resources to them why? There prime excuse is that they pay taxes. We have to stop paying taxes and watch what happens. The American people are being treated like second class citizens.It`s time to make them walk out of here the way they came in. They want our guns and we don`t know the numbers that are here illegaly. I would call this a hell of an army that are already here.
Would someone go SPIT in the BUTT UGLY FACE of the DERANGED West Coast WITCH ! HOPING that one day she will leave her Bandana home and Catches the VIRUS !!
Senile Rep. Nancy Pelosi (D-CA) has received a message that her $24,000 freezer will not operate in the extreme temperatures of her eternal residence!
Polosi & the rest of the democrats are are selling the American citizens down the road to slavery & bankruping our nation .
What is this another ploy to hid in a bill another raise or perks for the house
Communism look it up people. It is were the government starts paying for stuff you get sucked in they own you and your stuff in the end, you work for them they own you like a slave. Learn history, look this up. It is scary and not what America is about.
I made 5 BILLION Dollars last YESTERDAY !!! TAX FREE!
The libs just want to keep you home by offering you more money ($2000 a month)so that the economy could go down a very deep shit hole! And create a great depression the likes you never seen. Don’t be fooled! You can’t trust these evil liberal Commie Demoncrats!
Bella Pelosi, better known as Dracula. Sneaked in a 1 billion Dollar funding for Plan Parenthood (The abortion factory) and other things that have nothing to do with the Coronavirus bill. Evil and Devious indeed! Never let a crisis go to waste is one of the Demoncrat 10 Satanic Commandments.
Wuhan Virus Bioweapon AKA: China Virus, Coronavirus weaponized by China and their Globalist treasonous Godless demoncratic Commie party and cohorts Soros the MSM fake media, academia, Hollywood, Millennials. Worst of all the treasonous RINOs..to crash the greatest US economy ever! And to take down the greatest president ever, President Trump!! Keep up the great work President Trump! 2020 and beyond! From the Patriots of a Commie free America!
This wild spending by the Democrats will impede the next generation. How will this be paid for, what’s the interest rate? Give this generation a chance get them back to work and do what ever to keep the government out of everything.
If she is putting this bill together, it has to be totally checked out for what she has tried to hide in it.
Any money that is to be given to the states in trouble, have to make a reasonable list of what it is going to be used for. NO pay raises for the top. None for the illegals, that is why they are in the trouble they are in. Any state caught using the money for other things will have to pay it all back.
Nancy “Mafia Baby” Pelosi is all set to maximize the damage she can do before she is sent into the sunset in a few months.
Her faculties are showing the same signs of reverse generation as in the case of her parties anointed one to lead the nation – with time reserved for a daily SNIFFING SESSION.
Some exercise, some meditate, some do Yoga first thing in the morning, so what is wrong with a daily early morning ritual of SNIFFING. Perhaps that’s why Creepy Joe Biden was coming in from the Back Patio to participate in the Town Hall from his basement the other day. SNIFFING in fresh air through the filters of human hairs has its own benefit. MAKES YOU A MUMBLING IDIOT.
Sorry, I digress, but it is important to set the context for the demented liberal mind set.
Just tell Nancy she just spent Three Trillion Dollars, make sure you convert it to how many pints of Jennie Ice Cream it amounts to. Convince her that that is enough for the peasants.
Make sure it is Chocolate Ice Cream.
Having been at home for so long, she is talking about MONOPOLY MONEY with her grandkids (just to make sure she does not goes on an ego high here – the word grand here does not mean grand as superb or almighty as you may think of yourself as the GRANDFOOL, but the CHILDREN OF YOUR CHILD). Yes, NANCY, unless you put some loopholes in the Tax Code the Children of your Children and future generations will be paying for your folly.
HOW ABOUT, ADDING ONE MORE ITEM TO YOUR PROPOSED HEROES ACT. “THROUGH INCORPORATION AS HEREIN STATED, ALL DEDUCTIONS ALLOWED UNDER ANY AND ALL PREVIOUS LEGISLATION ARE HEREBY RESCINDED AND THE FEDERAL TAXES WILL BE HEREAFTER ASSESSED ON THE CURRENT INCOME TAX RATES FOR THE INCOME BRACKETS IDENTIFIED, AND ANY CHANGES (+/-) WILL BE SUBJECT TO A TWO THIRDS MAJORITY IN BOTH HOUSES OF CONGRESS SUBJECT TO THE APPROVAL OF THE PRESIDENT OF THE UNITED STATES OF AMERICA”.
DARE YOU TO INCLUDE THIS, AND THEN LET US SEE HOW MANY OF YOUR DERANGED, DEMENTED, DEMONIC LIBERALS WILL SUPPORT YOUR PROPOSED LEGISLATION TITLED HEROES ACT.
How can this woman live with herself. Every morning she must wake up and look in the mirror and say, how am I going to screw the American tax-payers today.