SALT 'Compromise': Similar Harm to States as Full Repeal
October 31, 2017
October 31, 2017
WASHINGTON, Oct. 31 -- The Center on Budget & Policy Priorities issued the following news release:
The tax bill that House Ways and Means Committee Chairman Kevin Brady plans to release tomorrow will reportedly end the federal deduction for state and local income and sales taxes, but keep it for state and local property taxes. This "compromise" on state and local tax (SALT) deductions -- to pay for marginal income tax rate cuts -- would be a bad deal for most Americans . . .
The tax bill that House Ways and Means Committee Chairman Kevin Brady plans to release tomorrow will reportedly end the federal deduction for state and local income and sales taxes, but keep it for state and local property taxes. This "compromise" on state and local tax (SALT) deductions -- to pay for marginal income tax rate cuts -- would be a bad deal for most Americans . . .