PING!
This makes for a more fair SALT system without necessarily encouraging high-tax states to send their “revenues” to the moon.
I support citizens of New York and such paying their fair share.
They lived high on the hog too long. It is time for reality to set in
The Federal government should stay out of this.
Let those corrupt states with high taxes fix the problem.
I say this as a refugee from New Jersey.
THE STATE IS RESPONSIBLE, THE STATE SHOULD BE THE ONE TO FIX IT.
The Republicans probably lost 12 to 15 seats because of the SALT increase. Especially in California, New Jersey, and Pa.
I support this.
*****************
Likely because it personally benefits YOU by subsidizing your state’s high taxes. I live in Maryland with high state & local taxes so the selfish side of me can understand the inclination.
But HELL NO....if anything we should be lowering or, better yet, eliminating SALT deductions. No more subsidies for the ambitions of Blue State ‘RAT politicians. Let their destruction of wealth be FULLY visible to their voters.
So...let’s give NOT AN INCH of the SALT deduction front.
I am completely against this.
It’s all liberals supporting it.
Get your head out.
I don’t.
I don’t support this. SALT is key. We need to keep and defend it. It will, in time, reduce NY taxes. And it does reduce the national debt. I myself pay more taxes now with the SALT. Because I have two homes, one in Illinois.
But SALT stops states from raising property taxes. It should be $5000 for individuals and $10000 for married couples. So if they fixed it by lowering the individuals that would be fine. But they won’t. They will go the other way which is almost the same as removing it all together.
Right now SALT is having a huge affect on home ownership. In my area where virtually every home is over a million dollars, homes are for sale everywhere. And there are some buyers. They don’t stay on the market forever. But the prices are the same as they were in 1999. Thats higher than 2002 and higher than 2009. But basically the homes in high tax states are staying the same because of taxes. As it should be. Otherwise states will continue to raise taxes and pass those taxes on to the federal government.
The real estate lobby and blue states may not like it. But its best for our country. SALT is the right thing. Defend it.
I hear the pigs squealing.
these high tax states should try a little fiscal responsibility.
My old Congresscritter Dana Rohrbacher tried to get it raised to $20,000.
He was defeated by a Rat after the Ballots were “harvested”.
why not just reduce state and local taxes on married couples at the state and local source instead of having the federal government subsidize out of fiscal control tax and spend democratic controlled states and their out of control spending habits?
if it walks like a liberal state tax subsidy and talks like a liberal state tax subsidy, maybe it is a liberal state tax subsidy...
and, for the record, i am in california
I don’t. If the residents of high tax states don’t like it either move or vote in political leaders who will lower their taxes. The taxpayers in other states subsidized high tax Leftist politicians in Blue States for far too long.
VETO!
F**K STEFANIK. RINO LOSER.
Roger that.
In addition to everything mentioned in the article, consider that with the SALT cap there are now many middle income tax payers who no longer itemize.
Unintended consequence: It won’t take long for many to figure out “why should I give (hypothetically) $10,000 in charitable contributions if the tax code is giving me credit as though I’d given $14,000?”
Watch charitable giving sink like Boeing stock.