The state and local federal tax deduction might be repealed, but phasing in a higher cap will likely be part of several trade-offs. Be careful what you wish for.
Why wasn't this an argument when people accused Trump of tax breaks for millionaires? This actually hits me pretty hard and I'm not rich by any US definition.
Why wasn't this an argument when people accused Trump of tax breaks for millionaires? This actually hits me pretty hard and I'm not rich by any US definition.
It actually was an argument made by Republicans then but they were drowned out.
The SALT deduction subsidizes wasteful state budgets in one party blue states. It should be repealed entirely.
If that forces fiscal discipline or prompts migratory defection to red states that manage their budgets better, that's good too.
Here, here!