Tags: Trump Tax Reform | taxes | salt | blue states | tax returns

House Dems Working on Solution to SALT Cap

massachusetts democrat jose luis magana looks over the brim of his glasses during a house committee hearing
Rep. Richard Neal, D-Mass. (Jose Luis Magana/AP)

By    |   Tuesday, 02 April 2019 08:25 PM

Democrats on the House Ways and Means Committee will meet Wednesday to discuss ways of resolving issues raised in high-tax states regarding the $10,000 cap on state and local tax deductions that was included in the 2017 tax cuts law.

Rep. Richard Neal, D-Mass., is the committee chairman and spoke about a new working group during a markup session Tuesday.

"Members of our committee that are interested in solving this challenge" would be included in the working group, Neal said.

"We know that the limitation on the SALT deduction is an important issue that the committee perhaps can address in this Congress."

The Hill reported on Neal's remarks.

The GOP's 2017 tax cuts law, which was passed and signed into law shortly before Christmas that year, included a maximum $10,000 deduction for state and local taxes. Lawmakers in high-tax states such as New York and New Jersey took issue with the directive, and President Donald Trump said in February he is open to changing the cap.

It was reported last month, meanwhile, that tax revenue for states fell by an average of 2% over the past three months of 2018.

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Democrats on the House Ways and Means Committee will meet Wednesday to discuss ways of resolving issues raised in high-tax states regarding the $10,000 cap on state and local tax deductions that was included in the 2017 tax cuts law.
taxes, salt, blue states, tax returns
191
2019-25-02
Tuesday, 02 April 2019 08:25 PM
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