I doubt these Long Island New York House members are gonna get much traction on changing the 2017 Trump inspired Tax gains for the Rich and Corperations by cutting interets decoctions for those in Blue high taxes state’s….
A trio of Long Island Republican congressmen on Friday announced bipartisan legislation to repeal the cap on the State and Local Tax deduction — known as SALT — a move that could amount to significant federal tax savings for Long Islanders with high property taxes.
Representative Nick LaLota of Amityville, whose district includes the South Fork, joined Representative Andrew Garbarino of Bayport, a co-chair of the Congressional SALT Caucus, and Anthony D’Esposito of Island Park, a caucus vice chair, in the driveway of a Franklin Square home to unveil the SALT Deductibility Act, a new attempt at passing legislation to eliminate the $10,000 limit on the tax deduction.
“This cap has financially devastated so many of our constituents and those in communities across the country,” Garbarino said. “As co-chair and founder of the Congressional SALT Caucus, I am committed to righting this wrong.”
By repealing the cap imposed by the Tax Cuts and Jobs Act in 2017, the legislation would permit Long Islanders to once again deduct all of their property taxes and state income tax on their federal tax returns.
“Long Islanders pay some of the highest property taxes in the country, and for the hardworking families in my district and all over Long Island, the $10,000 cap means they are only able to deduct a portion of their real property taxes and income taxes,” Garbarino said….
…
The SALT Caucus relaunched in February with 33 members hailing from California, New York, Maryland, New Jersey, Illinois, Minnesota, Connecticut — some of the states with the highest taxes in the country — as well as the District of Columbia.
Since 2019, the U.S. House of Representatives has passed legislation to repeal the SALT cap three times, though the Senate has not acted on any of the bills….
Note….
REALLY?
Anybody think McCarthy careas about this enough to give it up in a deal with Biden?