Report: Joe Biden Likely to Axe Tax Deduction for Wealthy Blue States in Infrastructure Bill

[mystery-ak]

Report: Joe Biden Likely to Axe Tax Deduction for Wealthy Blue States in Infrastructure Bill

Sean Moran 20 Oct 2021

President Joe Biden will likely eliminate a proposal to raise the state and local tax deduction (SALT) deduction in the Demcorats’ infrastructure bill, according to a report Wednesday.

Biden told moderate Republicans restoring the SALT deduction would likely be eliminated from the Democrats’ infrastructure package, otherwise known as the Build Back Better Act.

The move would likely enrage moderate Democrats, who have promised that they would not back the package unless they were to raise the SALT deduction.

President Donald Trump and congressional Republicans limited the SALT deduction to pay for the Trump Tax Cuts and Jobs Act. The SALT deduction mainly benefits wealthy blue states such as New York, New Jersey, and California.

House Democrats representing New York and New Jersey have promised to oppose any tax increases in the Build Back Better Act if the bill did not include raising the SALT deduction.

“I think that if it doesn’t happen now, it’s not going to happen,” Rep. Tom Suozzi (D-NY) said. “There’s certainly a lot of support” among House Democrats for reviving the full SALT deduction, he added. “The question is, who’s willing to draw a line in the sand on this issue?”

more
https://www.breitbart.com/politics/2021/10/20/report-joe-biden-likely-to-axe-tax-deduction-for-wealthy-blue-states-in-infrastructure-bill/

[Killer Clouds]

Traitor Joe isn't doing anything.

[Kamaji]

The SALT deduction won't be raised, because wealthy liberals in the blue states have already figured out a work-around, and for some obscure reason, the IRS has validated what is essentially out-and-out tax evasion.

It only works, however, if one gets most of one's income through a partnership - like a lawfirm, of course.