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Lawsuit over SALT deduction all theatrics, no substance?
Former New York Lt. Gov. Betsy McCaughey on Sen. Kamala Harris', D-Calif., Medicare-for-all plan and the three states suing IRS over the SALT deduction cap in the Republican tax reform legislation.
Senate - Democrats - Vote - Ruling - Cap
Senate Democrats plan to force a vote to repeal a recent ruling regarding the controversial $10,000 cap on state and local tax deductions, imposed under the Tax Cuts and Jobs Act.
Senate Minority Leader Chuck Schumer and Sen. Ben Cardin announced on Thursday that they would use a disapproval resolution under the Congressional Review Act to “force a majority-threshold vote” on a measure to repeal IRS rules that block a SALT cap workaround.
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Specifically, the vote will be on “a resolution to repeal the IRS rule that prohibits states and local governments from protecting residents from ‘double taxation’ of their local charitable contributions and State and Local Taxes (SALT) under the Trump tax bill,” Schumer, a Democrat from New York, said in a press release.
Response - Cap - Number - State - Governments
In response to the cap, a number of state governments proposed or enacted legislation that would allow taxpayers to...
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