Even if it doesn't help at presidential level, it should help house candidates.
it will help a lot in winning back Congress but the R candidates in those districts need to pick up the mantra and promote tax cutting
they can’t leave it all to President Trump to do for them, the voters have to see that the Congressional candidates themselves support cutting oppressive taxation
This is INCREDIBLY BAD NEWS. This would only SUBSIDIZE the spending of the DEEP BLUE STATES. I’m hoping that this is simply CAMPAIGN RHETORIC but fear it is not!
the tax deduction cap was supposed to do what? Cause states to lower taxes? Not happening. It was a dumb idea if that is what it was for. If it was to raise more federal revenue it is just another tax increase.
Must be getting not so good internal poll numbers today.
He needs to stop.
He is promising things he has no ability to provide.
Lots of stuff gets said in the campaigns that never makes it to legislation, and for those congressional districts, the local candidates are at odds with the national GOP priorities (lower taxes are popular everywhere. Higher taxes just because you live in a red area of a blue state isn’t a winner.)
In a more strategic sense, wouldn’t it be fantastic if state and local taxes were able to be fully deducted from your federal taxes, and then your local municipality jacked up your taxes to completely offset your federal obligation and nearly all of your taxes never left your locality and never got to DC in the first place?
A lot of people don’t see the genius behind this. Uncapping would increase subsidy to states to which can be used against them later proving irresponsibility in budget and funds management.
Think Newsom promoting a succeeding governor and Trump has the receipts to show how much the Federal government has subsidized stupid projects that show no benefit to its citizens.
This is wrong, stupid, and destructive. But Trump is in full pander mode and doesn’t care.
He’s the one who capped them to begin with.
Yay, low income tax states get to subsidize high tax states once again.
It’ll help us win Congress. But it is in effect, a giant subsidy for high tax states.
This is intended to help Republican House members in California, New York, and New Jersey.
Unless the democrats have a landslide election, I doubt anything changes.
We argued three years ago that capping the SALT deduction would harm the purple states—like Pennsylvania—which could tip the EV.
Personally, it was a wash with the lower tax brackets.
But I miss doing a Schedule A!
Although the loss of those writeoffs negatively affected me, I still supported the cap in general with the idea that it was a subsidy taken from other states for California. I was able to pay off the mortgage to rid myself of loan interest writeoff that became useless. I don’t support the return of SALT.
This is all about winning states like New York and New Jersey, not California. It’s a great move, politically speaking, if not fiscally. But Trump thinks big. He swings for the fences. And he wants to jump start the economy, including in blue states. I’m wondering if, once in office, there might be ways for him to use his leverage as President to get blue states to lower their own state taxes and government bloat. Now THAT would be a masterstroke if he could pull it off.
He needs to stop pandering. The main reason to vote for Trump is because he does what he believes not just what he thinks will resonate with voters.
Check
That cap has clobbered many in NYS...and these are not just wealthy people but people who have invested their money in their home.
Trump is going too far in playing Santa Claus with some of his recent proposals. This is a bad idea. Unless his plan is to simply borrow more, at some point taxes will have to go up to pay for this and those taxes will impact all states rather than the Blue States that benefit from the deduction. And I say this as someone who is hurt by the cap on the deduction.
State taxes should purely and 100% be within the state, the people can vote or not vote for them and then pay 100% of what they voted for, keep the collective people of the United States out of subsidizing them.