Congress and President Trump operates to pass “a large beautiful bill” legitly cut, spending spending 8 1.7 trillion, strengthening the US military.
But. Always a “but.”
Some congressmen threaten to vote against the bill if it fails to increase the salt cap. Salt is acronym for state and local taxes.
Now, you can pour $ 10,000 in your taxes and local tax payments from your income before you can calculate your income taxes. Most taxpayers (91%) do not claim to have no reduction in salt, while taxpayers with $ 200,000 or more received 65% of salt tax benefits.
Who is affected by the Home and Local Dield Limit and Local Year? Those with high income living in states with high taxable taxes and higher property taxes. Think of New York City, San Francisco and Los Angeles.
Political thinking: blue towns in Blue States. Cities with mayors who refuse to prevent city expenditure. Governors who refuse to control state spending. They want the federal subsidy for their higher tax.
Consider motivated salt as a subsidy for large state and local level government. It helps mayors and governors sell higher state and local taxes.
Eight states should not be concerned when state tax charges do not decay when federal taxes are calculated. Those states have zero state income tax. You read about them annual reports, where do you know that many Americans have moved in unchecked states: texase, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire, new hampshire Hampshire, new harnshire, New Hampshire, New Hampshire, New Hampshire, New Hampshire, New Hampshire, New Hampshire, New Hampshire, South Dakota, Wyoming and Alaska.
Besides, there are 10 states where the Governor and State Registration is initiated to share income tax income in Zero, Indlala, Northlamina, Mississiana, Louisiana, Ukansas.
Salt distance requires Americans in all states to pay taxes to higher income Americans in blue towns in blue states.
If all taxes and local taxes do not decay, it will shift $ 1.2 Tax trillion to others with us. That is a significant subsidy to keep democratic mayors and governors who need ruler effectively.
How is this problem with high taxes to be suffered in city and state levels?
Citizens living in blue cities can vote for mayors limited to spending taxes. The citizens of the Blue States can choose governors and legislators in the state with self-control with other people’s money.
Similar to limiting the importance of salt / no salt decreases tax rates for Federal Taxpayers.
May need to raise salt cap to get the big beautiful bill of finish line. However, the more Congress increases the salt cap, the more it permits progressive politicians to stay away from high taxes and high spending.
GROVE NORQUNCT THE AMERICAN PRESIDENT FOR TAX REFORM / INDONCIDES
