House GOP tax bill calls for ‘SALT' deduction cap of $30,000 for most taxpayers.

[Dont Taz Me Bro]

No, low tax states should not be subsidizing high tax states. If people are unhappy with the level of state and local taxes they are paying they should elect people who are more fiscally responsible.

• Currently, there's a $10,000 limit on the federal deduction on state and local taxes, known as SALT, which will expire Dec. 31, 2025, without action from Congress.
• House Republicans wants to raise that to $30,000 for those making $400,000 or less, according to preliminary text released Monday afternoon.
• However, the committee will debate the legislation on Tuesday afternoon and it could still change significantly.

House GOP tax bill calls for ‘SALT' deduction cap of $30,000 for most taxpayers. Here's who could benefit

The proposed House GOP tax bill raises ‘SALT’ deduction cap to $30,000 for most taxpayers. Here’s who would benefit the most, experts say.

www.nbcnewyork.com

 

[Muhammed]

I like deductions.

 

[excalibur]

They've been crying about the $10,000 maximum since Trump pushed it through in 2017 in the tax bill.

Indeed, why should low tax states help subsidize high tax states?

 

[Oddball]

 

[InstantOn]

m

They've been crying about the $10,000 maximum since Trump pushed it through in 2017 in the tax bill.

Indeed, why should low tax states help subsidize high tax states?

How many low SALT States make the most use of federal aid:

Which States Rely the Most on Federal Aid?

While state-levied taxes are the most evident source of state government revenues, and typically constitute the vast majority of each state’s general fund budget, it is important to bear in mind that they are not the only source. State governments also receive a significant amount of non-general...

taxfoundation.org

 

[Rigby5]

They've been crying about the $10,000 maximum since Trump pushed it through in 2017 in the tax bill.

Indeed, why should low tax states help subsidize high tax states?

Its irrelevant about what states have low taxes vs high taxes.
What matters is that when you pay state taxes, your state tax is no longer profit, and should not be taxes again by the federal government.

 

[elektra]

My state of connecticut cant elect anybody but the democrats because the election is fixed

 

[Care4all]

No, low tax states should not be subsidizing high tax states. If people are unhappy with the level of state and local taxes they are paying they should elect people who are more fiscally responsible.

• Currently, there's a $10,000 limit on the federal deduction on state and local taxes, known as SALT, which will expire Dec. 31, 2025, without action from Congress.
• House Republicans wants to raise that to $30,000 for those making $400,000 or less, according to preliminary text released Monday afternoon.
• However, the committee will debate the legislation on Tuesday afternoon and it could still change significantly.

House GOP tax bill calls for ‘SALT' deduction cap of $30,000 for most taxpayers. Here's who could benefit

The proposed House GOP tax bill raises ‘SALT’ deduction cap to $30,000 for most taxpayers. Here’s who would benefit the most, experts say.

www.nbcnewyork.com

Overall, high tax states subsidise low tax states, almost always.

 

[1srelluc]

Every nickel that can be kept away from ANY tax man is a win as far as I am concerned.

 

[Dont Taz Me Bro]

Overall, high tax states subsidise low tax states, almost always.

Then stop. As I said before, it's all a matter of who you vote for to make these decisions.

 

[Care4all]

Then stop. As I said before, it's all a matter of who you vote for to make these decisions.

The deduction is leveling the playing field, as it stands though...

 

[Care4all]

Every nickel that can be kept away from ANY tax man is a win as far as I am concerned.

Then you are against tariffs?

 

[Independent thinker]

No, low tax states should not be subsidizing high tax states. If people are unhappy with the level of state and local taxes they are paying they should elect people who are more fiscally responsible.

• Currently, there's a $10,000 limit on the federal deduction on state and local taxes, known as SALT, which will expire Dec. 31, 2025, without action from Congress.
• House Republicans wants to raise that to $30,000 for those making $400,000 or less, according to preliminary text released Monday afternoon.
• However, the committee will debate the legislation on Tuesday afternoon and it could still change significantly.

House GOP tax bill calls for ‘SALT' deduction cap of $30,000 for most taxpayers. Here's who could benefit

The proposed House GOP tax bill raises ‘SALT’ deduction cap to $30,000 for most taxpayers. Here’s who would benefit the most, experts say.

www.nbcnewyork.com

While I agree, it will be fun to watch democrats bitch about the SALT cap raises not being available to those making over 400K. This was actually a great political move by Republicans.