Democrats’ ‘SALT’ headache hangs over budget reconciliation bill
Story Date: 11/17/2021

 

Source: Lindsey McPherson and Laura Weiss, ROLL CALL, 11/16/21

Democrats set out to pay for their massive clean energy and social spending package with tax increases on the wealthy, but a parochial desire among lawmakers from high-tax states to provide relief from a $10,000 cap on state and local tax deductions has undermined that goal. Any adjustment risks providing a windfall to wealthy taxpayers that they otherwise wouldn’t get under Democrats’ budget reconciliation bill. That’s why House lawmakers waited until the last minute to work "SALT" relief into the package...

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