SALT talks in Washington: Don't tax our donors!

mind you, MA resident John kerry registered his boat in Rhode Island to avoid his state’s property taxes even before SALT, but no tax can capture all crooks

Moderates Threaten To Tank Budget Unless It Includes Tax Cut That Would Mostly Benefit The Rich

Some moderate Democrats are hinging their support for their party’s $3.5 trillion budget on reinstating state and local tax deductions, setting up another contentious fight as they work with slim majorities to pass the bulk of President Joe Biden’s agenda.

“No SALT, no deal,” New York Rep. Tom Suozzi, a moderate from Long Island, said in a statement Tuesday. “I simply cannot stand by while the hardworking people across all of New York are hurting because of the SALT cap.”

SALT deductions were capped at $10,000 in the Tax Cuts and Jobs Act, which Republicans passed in 2017. They allow taxpayers to deduct taxes already paid to state and local governments, meaning that Americans can deduct more in places where non-federal taxes are higher, including blue states and affluent suburban areas.

Restoring the deduction has the support from most of New York’s House delegation, Sen. Kirsten Gillibrand and Majority Leader Chuck Schumer. Seven Democratic governors in April said the original cap was “based on politics, not logic or good government.”

“This assault disproportionately targeted Democratic-run states, increasing taxes on hardworking families,” they said in a letter to the White House.

Hardworking families like the Kardashians, the Sussexes, and the ex-wives of tech billionaires. And the Clintons, the Pelosi’s, and every single movie “celebrity” behind every single locked gate.

I get it: the cap on property tax deduction falls on the just and unjust alike, but I’m willing to bite the bullet just to savor the discomfort of the Hamptons-NYC-California Despicables.