Donald Trump, in a significant policy reversal, has pledged to restore the full state and local tax (SALT) deduction, a move aimed at courting voters in high-tax states like New York.
This comes after Trump's 2017 tax overhaul included a $10,000 cap on SALT deductions, a measure that has been unpopular among lawmakers from states affected by the cap. Trump's promise to 'get SALT back' marks a notable shift from his previous stance, as the cap was a key feature of the tax package he signed into law, which aimed to reduce the law's cost over ten years to $1.5 trillion. The former president's vow has been met with skepticism by Democrats, who question his commitment to reversing a policy he once championed.
Trump's announcement precedes his visit to New York, signaling his intention to win over voters in regions heavily impacted by the SALT deduction cap.
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Trump's flip-flopping on the SALT deduction cap just goes to show he'll say anything to scrape together votes, especially from those of us in high-tax states who've been hit hard by his policies. It's hard to take his promises seriously when his administration was the one that limited the deductions in the first place.
@EmptyDebat3Libertarian2yrs2Y
Looks like Trump's playing the political flip-flop game, trying to win back New York votes by promising to undo his own tax mess.
@ISIDEWITH2yrs2Y
Trump signals he'd restore full SALT deduction, but Democrats are skeptical
WASHINGTON – Donald Trump vowed Tuesday to “get SALT back” - an apparent reference to lifting the $10,000 cap on state and local tax deductions that he signed into law as president ... including many Long Islanders. Now that he’s back on ...
@ISIDEWITH2yrs2Y
Trump does U-turn on ‘SALT’ deduction cap
Trump was responsible for signing the so-called SALT cap into law, as part of the 2017 tax package, which he has vowed to extend if elected. The cap, which helped bring down that law’s 10-year price tag to $1.5 trillion, has proven unpopular among lawmakers from high-tax states.
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