Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Bloomberg: Trump Pledges to Restore SALT Write-Off, the Tax Break He Curbed
Link to tweet
Steven Rattner
The ultimate cynicism. Trump virtually eliminated deductions for state and local taxes in 2017 and is now promising to restore, to try to get blue state support. Voters: Don’t be fooled.
The ultimate cynicism. Trump virtually eliminated deductions for state and local taxes in 2017 and is now promising to restore, to try to get blue state support. Voters: Don’t be fooled.
Trump Pledges to Restore SALT Write-Off, the Tax Break He Curbed
-Former president’s tax law limited deduction to $10,000
-Democrats have pushed to increase SALT value for years
By Gregory Korte
September 17, 2024 at 7:22 PM UTC
Donald Trump said that he would revive the state and local tax deduction, a popular tax break for New Yorkers that the former president limited during his time in the White House.
“I will turn it around, get SALT back, lower your Taxes, and so much more,” Trump said in a Truth Social post on Tuesday, a day before he is scheduled to hold a rally on Long Island, New York.
The deduction is a particularly potent issue in New York City-area suburbs where the combination of high tax rates and high property values make the tax write-off especially valuable. The Tax Cuts and Jobs Act, Trump’s signature tax law, capped the value of that deduction at $10,000, regardless of marital status.
Trump didn’t specify what changes he would make to SALT.
/snip
-Former president’s tax law limited deduction to $10,000
-Democrats have pushed to increase SALT value for years
By Gregory Korte
September 17, 2024 at 7:22 PM UTC
Donald Trump said that he would revive the state and local tax deduction, a popular tax break for New Yorkers that the former president limited during his time in the White House.
“I will turn it around, get SALT back, lower your Taxes, and so much more,” Trump said in a Truth Social post on Tuesday, a day before he is scheduled to hold a rally on Long Island, New York.
The deduction is a particularly potent issue in New York City-area suburbs where the combination of high tax rates and high property values make the tax write-off especially valuable. The Tax Cuts and Jobs Act, Trump’s signature tax law, capped the value of that deduction at $10,000, regardless of marital status.
Trump didn’t specify what changes he would make to SALT.
/snip
Don't be fooled.
3 replies
= new reply since forum marked as read
= new reply since forum marked as read
Looks like the G.O.P. got SUCKERED big time when they submitted meekly to this draft dodging felon/rapist.
Not even the Wayback Machione is any help here.
