.
Eliminating this deduction will turn Trump’s “Tax cut” into a tax increase for all middle class payers.
.
If this goes through ( which I doubt it shall ), it makes a LIE out of the whole TAX CUT promise!
Absolutely. I claim Single/0 as does my wife. My wife takes out extra taxes to compensate for the "marriage penalty". The SALT deduction amount to about $20,000 annually. It is my only deduction. Absent that deduction, I would be hammered to pay even more taxes to the feds. Property taxes alone are $5,000 of that sum.
My annual sign-up for "benefits" arrived in the mail. For 26 years I have earned 7.68 hours for every 80 hours worked. That amounts to 200 hours of PTO earned for 2080 hours of labor. The "new, uniform policy" will cut that to 160 hours. My employment contract is being violated. The cap on PTO hours has been 480...and I've been locked at 480 for two years while the company neither paid me for hours earned nor credited beyond the "cap". The new "cap" hauls the number down to 400 as well. Lots of unsavory changes coming outside of the tax proposals. Screwing up 401k programs to finance their profligate spending is another knife in the back.