Trump promises to end SALT deduction caps during NY rally
SALT deductions are currently capped at $10,000 due to the 2017 Tax Cuts and Jobs Act, which Trump signed into law.
Former President Donald Trump on Wednesday vowed to restore deductions for state and local taxes (SALT) during a rally in Uniondale, NY.
"I will cut taxes for families, small businesses and workers, including restoring the SALT deduction, saving thousands of dollars for residents of New York, Pennsylvania, New Jersey, and other high cost states," he promised.
SALT deductions are currently capped at $10,000 due to the 2017 Tax Cuts and Jobs Act, which Trump signed into law.
"Restore SALT [and] jobs and factories will pour back into New York," he promised. "I know how to do it better than anybody has ever known how to do it, and we can do it so easily. Wages will soar, the cost of living will fall, and I will deliver the greatest economy in the history of the world to our country and one of the greatest economies in the history of New York State."
The SALT deduction cap has attracted scrutiny from Republicans in blue states. One of the only pieces of legislation introduced by former Rep. George Santos, R-N.Y., involved increasing the cap from $10,000 to $50,000, though it did not pass the chamber.