In a U-turn on his own past policy, Trump now says he agrees, too. 'I'm going to restore SALT,' the former president told a cheering throng at a Sept. 18 campaign rally at Long Island's Nassau County Coliseum. This shift appears designed to bolster voter turnout for GOP suburban freshmen facing tight races.
New York Democrats are understandably annoyed. 'Trump and House Republicans were the ones who capped SALT deductions - taking billions of dollars out of the pockets of hard-working families throughout our state,' Gov. Kathy Hochul griped. 'New Yorkers see right through the BS.'
The cap did not 'take billions of dollars out of the pockets of hard-working families' - not when combined with other 2017 tax law provisions that put billions of dollars back into most of the same pockets. In fact, federal individual income taxes on New York residents dropped by $3.4 billion the first year under the new tax law.
With most of the TCJA due to expire at the end of 2025, the fate of SALT and other provisions of the law will be a front-burner issue for the next administration, no matter who wins.
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