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Trump pledges to restore SALT deduction ahead of rally in tax-heavy NY. Ryan King. ... they imposed the $10,000 cap on the SALT deduction to reduce the deficit from their corporate tax reform.
Donald Trump has vowed to “get SALT back,” promising to restore the full deduction for state and local taxes if elected in November.The announcement pivots from his previous stance and has ...
As president, Trump signed a sweeping tax law in 2017 which set the SALT cap at $10,000, a move that critics say targeted Democratic-leaning states with high property taxes, including New Jersey ...
Donald Trump called for rolling back part of his signature tax law Tuesday, suggesting he would seek to reinstate the state and local tax deduction or SALT.
Trump’s flip-flop on SALT brought ringing praise from Rep. Mike Lawler, R-Pearl River, and derision from former Rep. Mondaire Jones, D-Sleepy Hollow, who is seeking to oust Lawler in November.
The Tax Cuts and Jobs Act of 2017 signed into law by President Donald Trump put a $10,000 cap on the SALT deduction for the years 2018–2025. [5] The Tax Policy Center estimated in 2016 that fully eliminating the SALT deduction would increase federal revenue by nearly $1.3 trillion over 10 years. [6]
During the recently completed presidential campaign, Donald Trump promised to lift the controversial $10,000 cap on state and local property tax deductions, known as SALT, if he regained the White ...
Former President Trump sounded an about-face Tuesday on the controversial tax policy known as the SALT deduction cap, breaking from a major provision in his signature piece of domestic policy.