A tranche of Republicans in New York have taken up the perennial cause of state and local tax deductions and are angling to see an onerous $10,000 cap lifted as part of ongoing negotiations over th…
New York Republicans are angling to raise the $10,000 state and local tax cap on federal deductions as part of ongoing negotiations over the debt ceiling.that would push the SALT cap to $60,000 for single filers and $120,000 for joint filers.
The cap, which was enacted in 2017 by President Trump, hurts middle-class suburban homeowners in high-tax states like New York and New Jersey. “What I have shared with my colleagues is that my proposal is good for the nation’s longtime fiscal health,” said LaLota, who is keen for a deal as part of the looming debt standoff.Rep. Mike Lawler said the issue “came up in discussions” around the broader debt deal. “My objective is to get the SALT cap lifted. There are going to be a lot of avenues to do that over the course of this congress.
“We have got to give the American people relief,” Santos said. Both Lawler and LaLota said they would not hold the debt deal hostage to SALT and said they would not work with Santos in any capacity on the issue.GOP Rep. George Santos has also emerged as an advocate on the issues — despite his indictment for fraud this week.Both Santos, Lawler, and Long Island Rep. Andrew Garbarino have introduced bills to lift the cap — the latter two with Democratic co-sponsors.
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