Democrats trade SALT promise for history

OK, so the Republicans have the New Jersey House Democrats dead on their “No SALT, No Deal” pledge.

“What a convenient reminder for New Jersey voters just before midterms that Josh Gottheimer and Tom Malinowski are unable to respond to their constituents and are ultimately beholden to Nancy Pelosi and Joe Biden when it counts,” said Samantha Bullock, Door -speaker of the National Republican Congressional Committee.

Yes, House Democrats will vote Friday on the massive bill titled the “Cutting Inflation Act.” And yes, they packed a line of attack for the GOP candidates in the handful of competitive races against the Democrats. which pledged to restore full amortization of state and local taxes.

The bill offers no relief from the $10,000 limit included in the 2017 tax review legislation signed by then-President Donald Trump. The cap resulted in steep tax increases for thousands of New Jersey homeowners.

Related:SALT excluded from the Inflation Reduction Act. Is it gone for good?

While Republicans have a little word, Democrats will have landmark legislation, the kind of landmark that can define the current era and shape the next.

It’s the largest political attack on climate change in US history, offering $369 billion for climate and clean energy, largely through incentives, not mandates who set right-wing Republicans on fire with demands for socialism.

In a state with a long history of belching refineries, and which bore the brunt of Super Hurricane Sandy a decade ago — not to mention the Idas, Irenes, Isaiases, or other hurricanes that soaked and destroyed the Garden State — this bill offers a first real chance to limit the extreme climate chaos that is looming on the horizon.

“When we talk about the impact of climate change, it’s not just about polar bears. It’s about the impacts in New Jersey and on New Jersey homeowners from flooding and extreme weather,” said said Doug O’Malley, director of environment. New Jersey, an advocacy group. “This, by far, gives us a chance to make the clean energy revolution a reality.”

No tax agreement, but no new taxes on the middle class either

Of course, the climate isn’t always the top concern for voters who see their grocery bills soar with inflation and high gas prices.

Republicans’ main campaign this fall will be to blame Democrats and unpopular (albeit improving) President Joe Biden for inflation. The GOP is already touting the plan as a sweeping middle-class tax hike that will cost jobs and increase the nation’s dependence on foreign oil. The party that has been in the pocket of corporate interests is now reshaping itself as the party of the average voter’s pocketbook.

“Prices have gone up on everything from gas to groceries creating this mess,” says Bob Healey, the Republican candidate for South Jersey’s 3rd congressional district, blaming incumbent Democrat Andy Kim and Biden in a 30 second announcement. .

Yet, at least initially, Republicans offer no solution to curb inflation and costs beyond suggesting they propose change. The so-called inflation legislation, on the other hand, is also replete with historic provisions that could blunt this line of attack.

For example, it allows Medicare to use its massive volume to negotiate lower prices with pharmaceutical companies, caps Medicare prescription fees at $2,000, and provides subsidies that will reduce the cost of health insurance for some 13 million Americans.

The measure is also financed by a new minimum tax of 15% on companies which now pay little or no tax.

After:What you need to know about the Inflation Reduction Act

Gottheimer, the 5th Democrat from the North Jersey Congressional District, who declared the “No SALT, No Deal” red line during negotiations for the Build Back Better Bill – a larger, earlier version of the reduction in inflation – argued that the long-term savings on the portfolio got its yes despite its failure to lift the SALT ceiling.

“This legislation does not increase taxes for families in my district – it reduces their financial burden,” he claimed earlier this week.

A chance to unite fractured Democrats

The legislation has a chance to merge the two factions of the Democratic Party and rebrand the party for the next generation, something that seemed out of reach as left-leaning “Squad” activists like New York’s Alexandria Ocasio-Cortez openly feuded with the more centrist, swing district party members. It merges some of the left’s populist priorities with the moderates’ demands for “affordability”.

And, more importantly, it demonstrates that the party can achieve great things in a time of deep division.

As things stand, Republicans are banking on Biden’s aging and inflation to remain a drag on Democrats in the fall races, and that could very well remain a safe strategy. But there are reasons to believe that this strategy might not be as safe as it seemed several weeks ago.

Inflation has cooled, gasoline prices have fallen below $4 a gallon, and Biden has been on a winning streak recently — announcing the assassination of a top al-Qaeda leader, signing a bipartisan semiconductor research bill and, of course, the bill awaiting passage of the Inflation Reduction Act. All this could give the party an unexpected boost.

Biden no longer looks like the Sleepy Joe of the right-wing characterization. Biden with a rebound may be more appealing to swing-district Democrats who hadn’t been so keen on hanging on to his coattails.

Additionally, the Supreme Court’s ruling overturning a constitutional right to abortion — and Kansas voters’ decision to reject a measure that would have eliminated abortion protections — is expected to energize disheartened Democrats.

And the possibility of Donald Trump launching his 2024 presidential campaign, which could turn the race for a referendum on Biden and the Democrats into a choice between two visions – a competition between a chaotic and radicalized Republican party still in the underworld. grip of Trump and the Biden Democrats who play in the norms, who plug in and govern.

New Jersey’s “No SALT, No Deal” Democrats will make that choice on Friday. It was never in doubt.

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