Wednesday, January 26, 2022

SALT change likely to be cut from bill, say Senate Democrats

The Hill reports:
Senate Democrats say a proposal to raise the cap on state and local tax (SALT) deductions, a top priority of Senate Majority Leader Charles Schumer (D-N.Y.), is likely to be cut from the revised Build Back Better Act.
There's more:
Some proponents now suggest it might be better to simply wait for it to expire after 2025 instead of accepting a compromise that would extend some version of it for another 10 years and leave many of their constituents dissatisfied.
Just a reminder...