A press release from Congressman Peter Roskam:
ICYMI: Casten tax hike plan continues to draw attention
One way to go
By: Bernie Becker, w/ Aaron Lorenzo
Politico Morning Tax
ONE WAY TO GO: Democrats — House Minority Leader Nancy Pelosi among them — haven’t been too, too detailed in explaining what parts of the GOP tax law they’d like to unwind.
But over at Forbes, the conservative tax consultant Ryan Ellis examines the tax ideas of Sean Casten, a Democrat from outside Chicago trying to unseat Rep. Peter Roskam (R-Ill.), a senior House Ways and Means member.
- sweeping away the new limits on the state and local deduction,
- bringing back the top 39.6 individual rate for people making seven figures a year,
- rolling back the 20 percent deduction for pass-through income and
- lifting the cap on the payroll tax. (For whatever it’s worth, the payroll tax cap is currently at $128,700, and simply removing it would hit some taxpayers that Democrats have tried to avoid raising taxes on in recent years.)
“Serial tax raiser Sean Casten is following in the footsteps of Mike Madigan and Nancy Pelosi with his plan to raise taxes on hardworking taxpayers,” said Roskam for Congress spokesman Veronica Vera.
“Illinoisans are already burdened by excessive taxes, but for Casten the list of additional taxes he’d seek to burden taxpayers with continues to grow.”