Rep. Holding on middle class tax deductions: “get rid of all of them”
“Banking heir turned Congressman George Holding isn’t satisfied with just throwing out some of the tax deductions middle class families use to help make ends meet and pay for medical care. If he had it his way, he’d ‘get rid of all of them.’ Why? So he can pay for a giant handout to corporations and the richest Americans, like the banking family he was born into,” said DCCC spokesperson, Cole Leiter. “Pretty soon North Carolinians will be calling George Holding Scrooge McDuck, and then, they’ll vote him out of office.”
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IN CASE YOU MISSED IT
House Republicans eye capping property tax deduction | News & Observer
By Bill Douglas & Emily Cadei
[…]
Supporters of this approach argued most taxpayers will still save money thanks to a larger standard deduction and lower rates. “From my conservative point of view you should get rid of all of them,” Rep. George Holding, R-N.C., a Ways and Means member, said of the deductions.
The state and local tax breaks cost the federal government more than a $1 trillion over a decade “and I don’t think that’s fair,” Holding said. Keeping that money in the federal coffers is also crucial for balancing Republicans’ plans to cut billions in other individual and corporate taxes.
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