Does the salt deduction encourage higher levels of state and local spending?

The State and Local Tax (SALT) Deduction is one of the original components of the 1913 tax law that created the federal income tax. This. Jan 30, 2025 ... The much-reduced SALT deduction would encourage wealthy taxpayers to move to states with low or no income taxes, such as Nevada, Texas and Florida. Jul 8, 2022 ... For Virginia income taxes, the electing qualifying PTE and the PTE's owners are required to add-back their respective federal deductions for ... Sep 17, 2024 ... Trump signals he'd restore full SALT deduction, but Democrats are skeptical ... WASHINGTON – Donald Trump vowed Tuesday to “get SALT back” - an ... Jan 27, 2025 ... As an individual, your deduction for state and local taxes (SALT) (lines 5a, 5b and 5c on Schedule A of Form 1040) is limited to a combined ... The SALT deduction for state and local taxes can only be claimed if you itemize on your tax return - that is, when your itemized deductions are greater than ... The latest version of the Build Back Better Act would raise the SALT deduction cap from. $10,000 to $80,000 through 2030. ○ “Raising the state and local tax ... Jul 27, 2021 ... ... (NY-02) led a letter to Congressional leadership calling for the immediate repeal of the State and Local Tax (SALT) deduction cap. Jan 12, 2025 ... Rep. Nicole Malliotakis challenged Democrats to help House Republicans increase the state and local tax deduction as she blamed them for overtaxing New York ... SALT Deduction. One of my most important priorities in Congress is to restore the full State and Local Tax (SALT) Deduction. As a proud Vice-Chair of the SALT ...