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Speaker pelosi said this will be added to the final bill. the white house stepped in and said they believe it is critical. they have to negotiate between the house and senate. some sources believe the votes of at least one of the democrats if not all three who voted against that was a protest vote in the sense they want procedural preconferencing with the senate. they're worried walking the plank on a policy that may not become law and doesn't ultimately have backing of the white house. there's also an issue about so-called salt deduction, state and local cap of 10,000. a group of lawmakers ar...

Vaccinated and our success in new jersey has been good on that front. we still have a ways to go. i think this moves itself out over a number of months. >> let's talk about jersey and joe biden's infrastructure plan. as it stands, any household making more than $400,000 will see a tax hike. this is already a very high tax state, and we know people have been leaving in part because of the cap on the s.a.l.t. deduction. could new jersey risk losing a lot more people to other lower tax states because it's too expensive to live here if this infrastructure plan goes through? >> a couple of things, ...

In a speech last week introducing his proposed $6 trillion 2022 budget, President Biden claimed that the benefits of the Republican Party’s Tax Cuts and Jobs...

How the S.A.L.T. deduction debate could derail infrastructure reform and last updated 2021-05-14 17:24:00-04 ORLANDO — Let's talk about salt. No, not what you put on food. The S.A.L.T. debate in Washington is about state and local tax deductions and whether Americans should be able to deduct unlimited state and local taxes on their federal tax return. WHY IT MATTERS Former President Donald Trump's signature tax law in 2017 made a change to the amount of state and local taxes that can be deducted from a federal tax return. Prior to 2017, it was an unlimited amount.

Restoring an unlimited federal tax deduction for state and local tax payments is bad politics and bad policy.Read Full Article » Comment