Lawmaker Gives Ultimatum on SALT Deduction

Bloomberg: “A New York Democrat said he won’t back any tax increases that President Joe Biden proposes to pay for infrastructure legislation unless there is also a repeal of the $10,000 cap on state and local tax deductions.”

Said Rep. Tom Suozzi (D-NY) in a statement Monday: “No SALT, no deal. I am not going to support any change in the tax code unless there is a restoration of the SALT deduction.”