GOP ramps up attacks on SALT deduction provision
| Republicans are ramping up attacks on a key tax provision under discussion for President Biden’s social spending package, even as Democrats have yet to reach a consensus among themselves on the issue.
Democrats from high-tax states such as New York and New Jersey want the spending package to undo the $10,000 cap on the state and local tax (SALT) deduction. But some progressives and some moderate Democrats are concerned that rolling back the cap would benefit wealthy Americans. Republicans, who created the cap in their 2017 tax law, are highlighting the potential impact of a roll-back for high-income households in an effort to prevent the SALT deduction cap from being changed in the social spending bill. Republicans also hope to use the SALT deduction issue against Democrats in the midterm elections. |
