SALT Republicans Have to Accept ‘Unhappy’ Deal, GOP Chair Warns
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The chairman of the House tax committee warned lawmakers from high-tax states demanding relief from a $10,000 cap on the state and local deduction that they will have to settle for an “unhappy” compromise.
House Ways and Means Committee Chairman Jason Smith said Tuesday in a Bloomberg Television interview that he will strike a balance between those who want no limit on the SALT deduction and those who want no write-off at all.