Schumer pledges to end cap on SALT deductions after 2025 ...Middle East

The Hill - News
Schumer pledges to end cap on SALT deductions after 2025
CHICAGO — Senate Majority Leader Chuck Schumer (D-N.Y.) told reporters at the Democratic National Convention in Chicago Tuesday that he will not allow the Trump-era cap on state and local tax deductions to continue after its scheduled expiration at the end of next year. Former President Trump and his Republican allies in Congress inserted a provision in the 2017 tax reform bill to cap state and local tax deductions at $10,000. That provision hit residents of expensive blue states such as New York, New Jersey and California with higher state and local taxes especially hard, but it raised a lot of revenue to offset the cost of Trump’s other proposals, such as cutting the corporate tax ra

Hence then, the article about schumer pledges to end cap on salt deductions after 2025 was published today ( ) and is available on The Hill ( Middle East ) The editorial team at PressBee has edited and verified it, and it may have been modified, fully republished, or quoted. You can read and follow the updates of this news or article from its original source.

Read More Details
Finally We wish PressBee provided you with enough information of ( Schumer pledges to end cap on SALT deductions after 2025 )

Apple Storegoogle play

Last updated :

Also on site :

Most viewed in News