Schumer, House Democrats Make Formal Push to Repeal SALT Cap
- Legislation would immediately repeal $10,000 SALT limitation
- Lawmakers are pushing for SALT to be included in stimulus bill
Chuck Schumer
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Senate Majority Leader Chuck Schumer and Representative Tom Suozzi, both New York Democrats, are leading efforts to fully repeal the $10,000 limit on state and local tax deductions, or SALT.
The lawmakers have introduced legislation in the House and Senate that would roll back the $10,000 cap included in Republicans’ 2017 tax law, which would allow taxpayers to write off the full amount of their state and local tax bills. That change would be a boost to many in high-tax states, like New York, New Jersey and California, where the deduction is most valuable.