Trump Open to Revisiting SALT Deduction

President Trump said that he is open to revisiting changes to a state and local tax deduction that Republicans in Washington enacted in 2017, the Sacramento Bee reports.

Said Trump: “There are some people from New York who have been speaking to me about doing something about that, about changing things. I’d be open to talking about it.”

“Until last year, taxpayers could deduct their state and local tax payments from their federal income taxes if they itemized their deductions. Republicans’ 2017 tax overhaul, however, capped the deduction at $10,000, which primarily affected wealthy individuals in high tax states like California, New York and New Jersey.”