Amen!
A group of blue-state Democrats is pushing for its top tax priority as part of President Joe Biden’s next major legislative package — a possible voting bloc that could make or break the bill if they stay united on the House floor.
The House Democrats stepping forward want to see a Biden infrastructure package that repeals the Trump-era limit on state and local tax deductions, known as the SALT deduction. The repeal is popular among blue-state members of their party but carries a significant budgetary cost, making it one of the emerging fault lines in Democrats’ coming infrastructure talks.
“I think that if it doesn’t happen now, it’s not going to happen,” said Rep. Tom Suozzi (D-N.Y.), who this week became the first Democrat to vow he’d oppose any future tax increases without a restoration of the SALT deduction. “There’s certainly a lot of support” among House Democrats for reviving the full SALT deduction, he added. “The question is, who’s willing to draw a line in the sand on this issue?”…
…
“Any changes to the disastrous 2017 Republican tax bill need to address the SALT deduction cap,” Sherrill said in a statement. “I’ve been working to get rid of the SALT cap since my first day in office and I’m confident that we’ll be able to find common ground with the Biden administration.”….
Note…
Senate Majority Leader lives in Brooklyn , New York ….a high state/local tax place…..
Maybe?
House Speaker Nancy Pelosi said Thursday she hopes that Democrats can ease the current cap on state and local tax deductions as part of a larger infrastructure package.
Several House Democrats from New York and New Jersey say they wouldn’t back any other tax changes unless the state and local tax cap is repealed. Republicans put a $10,000 limit on state and local deductions in their 2017 tax law, H.R. 1 (115), a move that particularly hurt those states and Pelosi’s home base of California.
More…