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SALT tax deduction: Democrats uncertain over ending federal cap


Democrats have ripped the law, both then and now.
So with Democrats now in control of Washington, will they reverse it and reduce federal revenue by nearly $80 billion a year when President Joe Biden needs new revenue to fund his $2 trillion infrastructure plan?
The fight appears set to play out in Congress and statehouses across the nation.
Democratic governors and both House Speaker Nancy Pelosi and Senate Majority Leader Chuck Schumer, from high-tax California and New York, respectively, want the so-called SALT cap repealed.
But so far, Biden, who previously supported the repeal, has been more circumspect as he looks to raise corporate taxes to pay for his infrastructure plan. ....

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