So raising the cap on the SALT deduction is giving a win to “the Democrat governors”? Huh. I could have sworn it was our family writing that check to the IRS. Not the governor. But that statement is continuing proof that capping the SALT deduction is punishment for blue state citizens.
So raising the cap on the SALT deduction is giving a win to “the Democrat governors”? Huh. I could have sworn it was our family writing that check to the IRS. Not the governor. But that statement is continuing proof that capping the SALT deduction is punishment for blue state citizens.
And the GOP conveniently leaves out the fact that these higher tax states have better roads, better schools, better health care systems… better just about everything for their residents.
They also don't point out that blue states pay the feds more than they receive back; the red states are the opposite. They take more than they give. So I guess putting a cap on SALT might actually rebound on red states.
All true. I’ve been in a purple state for about 2.5 years, and the higher taxes we pay here do all that, plus our municipality has enough tax revenue for residents not to be charged for trash collection. That said, I’m OK with the $30K cap for AGI under $400K, but I see the point the NY group is making.
I had understood under, but I could be mistaken. Also it could have changed ten times as this bill was negotiated, and I believe I heard this several days ago at least. If it’s only for over, I’m unhappy. That’s another squeeze on the middle class.
Per this morning’s (5/22) NYT, the SALT caucus was successful in getting this modification overnight: SALT deduction cap raised to $40K, and the deduction shrinks for those making $500K and up. I’ve been following this because it’s a rare win for the middle class. Those caps help regular people get the full deduction, but limit the deduction for those with the highest incomes and home values. Tim can make fun of this all he wants, but it’s something. It’s something for regular folks. And btw, the very best state-operated highway rest area I have ever seen is in New York. Clean and well maintained with lots of picnic tables, a nice doggy rest area with poop bags, plenty of restroom space.
So raising the cap on the SALT deduction is giving a win to “the Democrat governors”? Huh. I could have sworn it was our family writing that check to the IRS. Not the governor. But that statement is continuing proof that capping the SALT deduction is punishment for blue state citizens.
And the GOP conveniently leaves out the fact that these higher tax states have better roads, better schools, better health care systems… better just about everything for their residents.
They also don't point out that blue states pay the feds more than they receive back; the red states are the opposite. They take more than they give. So I guess putting a cap on SALT might actually rebound on red states.
I’m a busy girl, I don’t always point out the obvious.
All true. I’ve been in a purple state for about 2.5 years, and the higher taxes we pay here do all that, plus our municipality has enough tax revenue for residents not to be charged for trash collection. That said, I’m OK with the $30K cap for AGI under $400K, but I see the point the NY group is making.
I am sorry? Shouldn’t it be a 30k cap for AGI OVER 400k?
I had understood under, but I could be mistaken. Also it could have changed ten times as this bill was negotiated, and I believe I heard this several days ago at least. If it’s only for over, I’m unhappy. That’s another squeeze on the middle class.
I don’t know. I could be wrong
I forgot about the higher minimum wage here in NY.
Per this morning’s (5/22) NYT, the SALT caucus was successful in getting this modification overnight: SALT deduction cap raised to $40K, and the deduction shrinks for those making $500K and up. I’ve been following this because it’s a rare win for the middle class. Those caps help regular people get the full deduction, but limit the deduction for those with the highest incomes and home values. Tim can make fun of this all he wants, but it’s something. It’s something for regular folks. And btw, the very best state-operated highway rest area I have ever seen is in New York. Clean and well maintained with lots of picnic tables, a nice doggy rest area with poop bags, plenty of restroom space.