Press reports suggest lawmakers are considering adding a two-year repeal of the cap on the deduction for state and local taxes (SALT) to their Build Back Better reconciliation plan. As we’ve explained before, SALT cap repeal is highly regressive and would weaken tax simplicity, neutrality, and fairness. At an estimated cost of roughly $180 billion over two years and $90 billion annually, SALT cap repeal would cost more than most other priorities under discussion. Repealing the SALT cap permanently could cost another $200 billion to $900 billion over a decade.Committee for a Responsible Federal Budget
Why would Democrats what to repeal the SALT deduction limitation of $10,000? Doing so is highly regressive and lowers revenue we can ill afford. Could it be the highest taxed states are Democratic controlled? Nah.
Democrats – TAX THE WEALTH OF THE WEALTHY
Democrats – Repeal the limit on tax deductions so that the wealthy do not have to pay as much in taxes.
“Democrats – TAX THE WEALTH OF THE WEALTHY” But make an exception for our donors.