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Sen. Grassley Torches Pelosi on Potential Repeal of SALT Cap

AP Photo/J. Scott Applewhite

As Congress’ dual chamber effort to pass an economic relief for Americans affected by COVID-19 continues, with another phase of stimulus relief in talks, Speaker of the House Nancy Pelosi is considering lifting the State and Local Tax (SALT) cap. The limit was a key part of the 2017 Tax Cuts and Jobs Act, and caps the ability to deduct state and local taxes from federal taxes at $10,000. A handful of blue states with high taxes, including New York, Connecticut and New Jersey, have sued to repeal the SALT cap, as the cap affects wealthier filers the most.

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Sen. Chuck Grassley (R-IA), Chairman of the Senate Finance Committee, told Fox news that a repeal of the SALT cap was a “nonstarter:”

"This is a nonstarter. Millionaires don’t need a new tax break as the federal government spends trillions of dollars to fight a pandemic," he said.

Congress’ Joint Committee on Taxation found last year that American households earning $1 million per year or more would overwhelmingly see the benefits of a SALT cap repeal, with federal revenue declining by $77 billion if the cap is lifted. A repeal of the SALT cap would benefit the wealthiest Americans, not working class families, as Speaker Pelosi claims it would.

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House Democrats in wealthy swing districts floated a repeal of the SALT cap in 2018, but Republicans stand behind the provision, as it overwhelmingly helps middle-class families. 

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