SALT Deduction Cap to Get ‘Meaningful’ Fix, Democrats Say
- Lifting cap on state and local deductions not in early draft
- Array of Democrats say they cannot support bill without that
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House Democrats said they will “undo” the $10,000 cap on the federal deduction for state and local taxes, after the Ways and Means Committee didn’t address the tax break in a package of proposals released Monday.
Ways and Means Chairman Richard Neal in a joint statement with Representatives Tom Suozzi of New York and Bill Pascrell of New Jersey said the committee’s tax plan was not the final step for legislation to enact President Joe Biden’s agenda. They called the SALT limit enacted in the Republican’s 2017 tax law “short-sighted.”