Repeal of SALT Deduction Not In House Tax Bill

Punchbowl News: “Here’s a section-by-section breakdown of the Ways and Means tax title. This will be taken up by the committee tomorrow and Wednesday. Leadership has high confidence that Rep. Richie Neal (D-MA) will get this done on time; it’s one of the most critical pieces of the entire reconciliation package.”

“Guess what’s not in here: a repeal of the SALT deduction limits. Repealing SALT caps has been a priority for blue-state Democrats ever since Republicans included it in the 2017 tax cut. Rep. Tom Suozzi (D-NY) has said that without a SALT repeal, he’ll vote against any Democratic reconciliation bill. Rep. Josh Gottheimer (D-NJ) has made similar threats, as have several other moderates.”