President-elect Donald Trump sits down with Kristen Welker for an exclusive and wide-ranging interview on Meet the Press.
WASHINGTON — A group of House Republicans representing high-tax states is demanding an increase to the federal deduction for state and local taxes, also known as “SALT,” in order to support an extension of President-elect Donald Trump's tax law next year. The battle centers on the $10,000 limit on deductions for state and local taxes, which Republicans established in a 2017 tax cut bill. The policy hit hardest in states like New York, New Jersey and California.
They argue the provision gives states an incentive to increase local taxes, knowing their voters can use it to lower their federal tax bills. “I think a big SALT tax deduction just encourages states to raise their own taxes,” said Rep. Thomas Massie, R-Ky. Sen. Thom Tillis, R-N.C., a member of the Finance Committee that will write the tax legislation, said the tension over SALT is “an example” of the difficulty Republicans will have due to the narrow House majority.
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