Trump’s Advisers Want to Cut SALT Write-Off Limit to Below $10,000
- $10,000 cap on state, local deductions set to expire in 2025
- Economists say it helps “rich people” in “very blue states”
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Economists advising Donald Trump are pushing to keep a cap on the state and local tax deduction, limiting a valuable tax break for many residents of New York, New Jersey and California.
Economists Stephen Moore and Arthur Laffer, who are regularly meeting with Trump to pitch him on economic policy ideas, said they are staunchly opposed to any increase to the $10,000 write-off cap on state and local taxes, or SALT. That limit was imposed in Trump’s 2017 tax law and will expire at the end of 2025, along with other key portions of the law.