Nancy Pelosi’s $3.5 Trillion Tax-Hike Plan, Explained

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House Speaker Nancy Pelosi (D-CA) answers questions from reporters during her weekly news conference on Capitol Hill in Washington, D.C., August 6, 2021. (Gabrielle Crockett/Reuters)

Increases in taxes on personal income, small businesses and corporations, savers and investors, smokers and vapers — it’s all in there.

NRPLUS MEMBER ARTICLE

T
he tax-writing House Ways and Means Committee’s Democratic majority on Sunday night released $3.5 trillion of new or higher taxes on American workers, business owners, and savers. This package of tax increases is intended to pay for the spending explosion that House speaker Nancy Pelosi (D., Calif.) and Senate majority leader Chuck Schumer (D., N.Y.) have planned (the budget resolution bill written by Senate Budget Committee chairman Bernie Sanders of Vermont). Whether it will pass muster with vulnerable House Democrats or in-cycle Senate Democrats (each of these groups is up for reelection in less than 14 months), to say nothing …

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