House GOP tax bill calls for ‘SALT' deduction cap of $30,000 for most taxpayers.

[Dont Taz Me Bro]

No, low tax states should not be subsidizing high tax states. If people are unhappy with the level of state and local taxes they are paying they should elect people who are more fiscally responsible.

• Currently, there's a $10,000 limit on the federal deduction on state and local taxes, known as SALT, which will expire Dec. 31, 2025, without action from Congress.
• House Republicans wants to raise that to $30,000 for those making $400,000 or less, according to preliminary text released Monday afternoon.
• However, the committee will debate the legislation on Tuesday afternoon and it could still change significantly.

House GOP tax bill calls for ‘SALT' deduction cap of $30,000 for most taxpayers. Here's who could benefit

The proposed House GOP tax bill raises ‘SALT’ deduction cap to $30,000 for most taxpayers. Here’s who would benefit the most, experts say.

www.nbcnewyork.com

 

[Muhammed]

I like deductions.

 

[excalibur]

They've been crying about the $10,000 maximum since Trump pushed it through in 2017 in the tax bill.

Indeed, why should low tax states help subsidize high tax states?

 

[Oddball]

 

[InstantOn]

m

They've been crying about the $10,000 maximum since Trump pushed it through in 2017 in the tax bill.

Indeed, why should low tax states help subsidize high tax states?

How many low SALT States make the most use of federal aid:

Which States Rely the Most on Federal Aid?

While state-levied taxes are the most evident source of state government revenues, and typically constitute the vast majority of each state’s general fund budget, it is important to bear in mind that they are not the only source. State governments also receive a significant amount of non-general...

taxfoundation.org

 

[Rigby5]

They've been crying about the $10,000 maximum since Trump pushed it through in 2017 in the tax bill.

Indeed, why should low tax states help subsidize high tax states?

Its irrelevant about what states have low taxes vs high taxes.
What matters is that when you pay state taxes, your state tax is no longer profit, and should not be taxes again by the federal government.

 

[elektra]

My state of connecticut cant elect anybody but the democrats because the election is fixed

 

[Care4all]

No, low tax states should not be subsidizing high tax states. If people are unhappy with the level of state and local taxes they are paying they should elect people who are more fiscally responsible.

• Currently, there's a $10,000 limit on the federal deduction on state and local taxes, known as SALT, which will expire Dec. 31, 2025, without action from Congress.
• House Republicans wants to raise that to $30,000 for those making $400,000 or less, according to preliminary text released Monday afternoon.
• However, the committee will debate the legislation on Tuesday afternoon and it could still change significantly.

House GOP tax bill calls for ‘SALT' deduction cap of $30,000 for most taxpayers. Here's who could benefit

The proposed House GOP tax bill raises ‘SALT’ deduction cap to $30,000 for most taxpayers. Here’s who would benefit the most, experts say.

www.nbcnewyork.com

Overall, high tax states subsidise low tax states, almost always.

 

[1srelluc]

Every nickel that can be kept away from ANY tax man is a win as far as I am concerned.

 

[Dont Taz Me Bro]

Overall, high tax states subsidise low tax states, almost always.

Then stop. As I said before, it's all a matter of who you vote for to make these decisions.

 

[Care4all]

Then stop. As I said before, it's all a matter of who you vote for to make these decisions.

The deduction is leveling the playing field, as it stands though...

 

[Care4all]

Every nickel that can be kept away from ANY tax man is a win as far as I am concerned.

Then you are against tariffs?

 

[Independent thinker]

No, low tax states should not be subsidizing high tax states. If people are unhappy with the level of state and local taxes they are paying they should elect people who are more fiscally responsible.

• Currently, there's a $10,000 limit on the federal deduction on state and local taxes, known as SALT, which will expire Dec. 31, 2025, without action from Congress.
• House Republicans wants to raise that to $30,000 for those making $400,000 or less, according to preliminary text released Monday afternoon.
• However, the committee will debate the legislation on Tuesday afternoon and it could still change significantly.

House GOP tax bill calls for ‘SALT' deduction cap of $30,000 for most taxpayers. Here's who could benefit

The proposed House GOP tax bill raises ‘SALT’ deduction cap to $30,000 for most taxpayers. Here’s who would benefit the most, experts say.

www.nbcnewyork.com

While I agree, it will be fun to watch democrats ***** about the SALT cap raises not being available to those making over 400K. This was actually a great political move by Republicans.

 

[SweetTea]

Its irrelevant about what states have low taxes vs high taxes.
What matters is that when you pay state taxes, your state tax is no longer profit, and should not be taxes again by the federal government.

Neither is your rent money, your electric bill or your water bill, but you can't write them off either.

 

[SweetTea]

So now Democrats are all for giving rich people huge tax deductions? Funny stuff. Cap it at 30k or not . That is a hefty property tax bill in most areas.

 

[my2¢]

If people are unhappy with the level of state and local taxes they are paying they should elect people who are more fiscally responsible.

That is quite true. Now if we would like the same fiscal responsibility on the federal level, the President and Congress should be lowering taxes for a year only when the overall national debt was lowered by at least 1% in the prior year. Likewise, an automatic increase in taxes should kick in when that fiscal goal of lowering the debt is unachieved.

 

[Cellblock2429]

No, low tax states should not be subsidizing high tax states. If people are unhappy with the level of state and local taxes they are paying they should elect people who are more fiscally responsible.

• Currently, there's a $10,000 limit on the federal deduction on state and local taxes, known as SALT, which will expire Dec. 31, 2025, without action from Congress.
• House Republicans wants to raise that to $30,000 for those making $400,000 or less, according to preliminary text released Monday afternoon.
• However, the committee will debate the legislation on Tuesday afternoon and it could still change significantly.

House GOP tax bill calls for ‘SALT' deduction cap of $30,000 for most taxpayers. Here's who could benefit

The proposed House GOP tax bill raises ‘SALT’ deduction cap to $30,000 for most taxpayers. Here’s who would benefit the most, experts say.

www.nbcnewyork.com

/----/ Why do Blue States refuse to pay their fair share?

Speaker Johnson reaches tentative deal with blue state Republicans to boost cap on SALT deduction​

Some Republicans frame the deduction increase as 'existential' while others fear it rewards blue state's high-tax state policies

House Speaker Mike Johnson has reached a tentative deal with blue state Republican lawmakers to boost the cap on state and local tax deductions, or SALT, to $40,000 in President Donald Trump’s so-called "big, beautiful bill," Republican sources confirmed to Fox News late Tuesday.

The proposed cap – which is up from $30,000 – would be per household for taxpayers making less than $500,000 per year.

 

[Marener]

Why do Blue States refuse to pay their fair share?

Why do people who work overtime refuse to pay their fair share?

 

[Cellblock2429]

Why do people who work overtime refuse to pay their fair share?

/----/ Uber Rich Blue States still get a $40,000 deduction. But you want to punish working-class folks who get a few hours of overtime.

 

[SweetTea]

Its irrelevant about what states have low taxes vs high taxes.
What matters is that when you pay state taxes, your state tax is no longer profit, and should not be taxes again by the federal government.

So, in theory, if a state raised taxes enough to offset someone’s entire income, they would pay no federal income tax. In some high tax states, that isn’t far from being the case. By the time they write off their high state income taxes and their property taxes, they pay very little to the federal government.