Peter1469
12-17-2018, 11:54 AM
Democrats will push to restore state and local tax deductions (https://www.mcclatchydc.com/news/politics-government/congress/article223103970.html)
I am totally against this. People who live in high state and local tax areas ought not be able to spread their costs to others. Vote for local and state officials who will cut your taxes, not raise them if you are so concerned.
The deduction doesn't matter for most people anymore anyway since the standard deduction has been raised so high.
One of the most contentious fights of Republicans’ 2017 tax overhaul is about to go another round.
Democrats from high-tax states — including California — are preparing to launch a new push to restore the state and local tax deduction, which the 2017 law capped, when Democrats take control of the House next year.
The SALT deduction, as it’s known, allows taxpayers to subtract state and local income, sales and property taxes from their federal tax payment, as part of their itemized deductions. It’s especially popular in states where local taxes and the cost-of-living are high. Members of Congress from those states — particularly New York, New Jersey and California — protested the cap, which allows people to deduction up to $10,000 of state and local taxes. But they failed to strip it from the 2017 law.
With Democrats in the majority in the House next year, however, SALT’s top defenders are ready to take another swing. And they are hoping that, as taxpayers begin to file their returns under the new rules in the coming months, the backlash will give their effort a political boost.
Read more here: https://www.mcclatchydc.com/news/politics-government/congress/article223103970.html#storylink=cpy
I am totally against this. People who live in high state and local tax areas ought not be able to spread their costs to others. Vote for local and state officials who will cut your taxes, not raise them if you are so concerned.
The deduction doesn't matter for most people anymore anyway since the standard deduction has been raised so high.
One of the most contentious fights of Republicans’ 2017 tax overhaul is about to go another round.
Democrats from high-tax states — including California — are preparing to launch a new push to restore the state and local tax deduction, which the 2017 law capped, when Democrats take control of the House next year.
The SALT deduction, as it’s known, allows taxpayers to subtract state and local income, sales and property taxes from their federal tax payment, as part of their itemized deductions. It’s especially popular in states where local taxes and the cost-of-living are high. Members of Congress from those states — particularly New York, New Jersey and California — protested the cap, which allows people to deduction up to $10,000 of state and local taxes. But they failed to strip it from the 2017 law.
With Democrats in the majority in the House next year, however, SALT’s top defenders are ready to take another swing. And they are hoping that, as taxpayers begin to file their returns under the new rules in the coming months, the backlash will give their effort a political boost.
Read more here: https://www.mcclatchydc.com/news/politics-government/congress/article223103970.html#storylink=cpy