NJ Spotlight News
Some say SALT deduction restoration is tax cut for wealthy
Clip: 5/3/2021 | 3m 35sVideo has Closed Captions
As it stands now, the president says restoring the deduction would cost too much.
The state and local tax deduction, previously unlimited, was capped at $10,000 by the Trump administration as a way to help pay for a massive tax cut. It targeted blue states like New Jersey, and since then restoring the deduction has become a rallying cry for Democrats. But some progressives are saying restoring the deduction is a gift to the wealthy.
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS
NJ Spotlight News
Some say SALT deduction restoration is tax cut for wealthy
Clip: 5/3/2021 | 3m 35sVideo has Closed Captions
The state and local tax deduction, previously unlimited, was capped at $10,000 by the Trump administration as a way to help pay for a massive tax cut. It targeted blue states like New Jersey, and since then restoring the deduction has become a rallying cry for Democrats. But some progressives are saying restoring the deduction is a gift to the wealthy.
Problems playing video? | Closed Captioning Feedback
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NJ Spotlight News is a local public television program presented by THIRTEEN PBS