Posted on Apr 15, 2021
Why some lawmakers are pushing to repeal limits on state and local tax deductions
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"Congressional lawmakers from both sides of the aisle are calling for a repeal of the state and local tax cap, arguing that they hurt middle-class Americans.
On Thursday, representatives led by Rep. Tom Suozzi, D-N.Y.; Rep. Andrew Garbarino, R-N.Y.; and Rep. Young Kim, R-Calif., announced a bipartisan caucus to overturn the so-called SALT cap."
On Thursday, representatives led by Rep. Tom Suozzi, D-N.Y.; Rep. Andrew Garbarino, R-N.Y.; and Rep. Young Kim, R-Calif., announced a bipartisan caucus to overturn the so-called SALT cap."
Why some lawmakers are pushing to repeal limits on state and local tax deductions
Posted from cnbc.com
Taxes
Democrats
Republicans
Congress
Posted >1 y ago
Responses: 1
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They are correct in that action. It will quicken the demise of the middle class if not repealed.
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SFC Casey O'Mally
A1C Mike Allen - SALT Caps do not hurt the middle class much. And they don't hurt the lower class at all. They hurt exactly two groups of people: Rich folks and politicians in high-tax states.
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