Shot. . .

President Trump wants $2 trillion of Phase 4 stimulus to be “VERY BIG & BOLD” and “focused solely on jobs and rebuilding the once great infrastructure of our Country”:

With interest rates for the United States being at ZERO, this is the time to do our decades long awaited Infrastructure Bill. It should be VERY BIG & BOLD, Two Trillion Dollars, and be focused solely on jobs and rebuilding the once great infrastructure of our Country! Phase 4 — Donald J. Trump (@realDonaldTrump) March 31, 2020

Chaser. . .

Nancy Pelosi wants Phase 4 to include a “full rollback of the limit on the state and local tax deduction, or SALT.” From the New York Times:

As lawmakers prepare for another round of fiscal stimulus to address economic fallout from the coronavirus pandemic, Speaker Nancy Pelosi suggested the next package include a retroactive rollback of a tax change that hurt high earners in states like New York and California. A full rollback of the limit on the state and local tax deduction, or SALT, would provide a quick cash infusion in the form of increased tax rebates to an estimated 13 million American households — nearly all of which earn at least $100,000 a year.

Which means “more than half the benefits of such an effort would go to millionaires”:

“More than half the benefits of such an effort would go to millionaires.” https://t.co/kZuQOZBKgn — Jonathan Swan (@jonathanvswan) March 31, 2020

Woman of the people!

.@jimtankersley reporting Pelosi wants to roll back SALT cap as part of Dems’ next coronavirus response package More than half of $77B cost of repealing cap go to ppl earning more than $1 million, JCT has found Almost all benefits go to +$200K earnershttps://t.co/uCO339KYM1 — Jeffrey Stein (@JStein_WaPo) March 31, 2020

No, we can’t make this up if we tried:

PELOSI – Coronovirus Economic Cure: Tax Breaks for Millionaires Maybe this will help them afford box seats at the Kennedy Center. Can’t make this up….https://t.co/rAZGzP9miq — Rep. Kevin Brady (@RepKevinBrady) March 31, 2020

We’ll go out on a limb and say this won’t happen:

Pelosi’s terrible idea: Retroactively raising the cap on State and Local Tax deductions. Retroactive tax deductions are always a bad idea — a giveaway that get you nothing — and this one goes almost entirely to household on at least $100,000 a year. https://t.co/FPIkaNCLb1 — Justin Wolfers (@JustinWolfers) March 31, 2020

But she does like infrastructure spending, too:

Nancy Pelosi talked about the same infrastructure opportunity in my interview with her yesterday, so there may be a bipartisan consensus emerging here: https://t.co/RH2YC4T5MX https://t.co/ORzyQZzNxP — Gerald F Seib (@GeraldFSeib) March 31, 2020

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