SALT caucus rejects tax-writing panel's offer of $30,000 deduction cap

[no_hypocrisy]

1. Understand this:

In several districts of New York and New Jersey, property taxes are as high as $40,000 annually. It depends upon the size of your property and your home.

The money goes to fund public education mostly.

Do the Math: a $10,000 cap on SALT deductions on federal taxes mean even billionaires have to pay taxes on an extra $30,000. That's no tax cut, right?

And it also means you're paying federal tax on already paid municipal tax, double taxation.

But hey, you gotta reduce The Deficit somehow, some way.