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How the S.A.L.T. deduction debate could derail infrastructure reform

How the S.A.L.T. deduction debate could derail infrastructure reform
and last updated 2021-05-14 17:24:00-04
ORLANDO â 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. ....

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Rush Debunks Biden's Lies About Trickle-Down Economics - The Rush Limbaugh Show

May 6, 2021
JASON: Biden was talking the other day as he proposes to bankrupt the country once and for all about the Trump economy. Even though we had the greatest economic renaissance when I was in Congress working with the president to pass the Tax Cut and Jobs Act than we’ve had in a generation, this is what Joe Biden had to say about it.
BIDEN: Folks, trickle-down economy economics has never worked. For too long, we’ve had an economy that gives every break in the world to the folks who need it least. It’s time to grow the economy from the bottom up and the middle out. ....

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Rush Debunks Biden's Lies About Trickle-Down Economics | 1390 KRRZ

By Premiere Networks
May 6, 2021
JASON: Biden was talking the other day as he proposes to bankrupt the country once and for all about the Trump economy. Even though we had the greatest economic renaissance when I was in Congress working with the president to pass the Tax Cut and Jobs Act than we ve had in a generation, this is what Joe Biden had to say about it.
BIDEN: Folks, trickle-down economy economics has never worked. For too long, we ve had had an economy that gives every break in the world to the folks who need it least. It s time to grow the economy from the bottom up and the middle out. ....

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Repealing Trump's SALT Cap Deemed Unpopular as It Benefits Rich

Repealing Trump’s SALT Cap Deemed Unpopular as It Benefits Rich
WASHINGTON A bipartisan group of lawmakers is pushing to eliminate the cap on federal tax deductions for state and local taxes (SALT) but many argue that such a move would massively favor the rich.
For decades, the ability to deduct SALT has been an important tax break for taxpayers who itemize deductions on their federal income tax returns. The 2017 Tax Cuts and Jobs Act (TCJA), however, limited the deduction for SALT payments to $10,000 a year. Any state and local individual income or property tax payments in excess of that amount are no longer deductible by taxpayers. ....

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The Tax Fight That Could Derail Biden's Infrastructure Plan

A bipartisan group of House members from high-tax states on Thursday launched a caucus focused on repealing the ....

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