
It's been three years since President Donald Trump signed his signature tax reform bill, and ever since, Democratic politicians from New York and New Jersey have been complaining about one particular aspect of the legislation: how much money people can deduct from their pre-tax income.
Elected officials like Governors Phil Murphy and Andrew Cuomo have hammered the bill's limits on deducting state and local taxes—known as "SALT"—for unfairly targeting Democratic states and have called for its repeal. But Richard Reeves, a senior fellow at the Brookings Institution, argued in a New York Times op-ed that repealing the SALT tax cap will overwhelmingly benefit the ultra-wealthy.
"People who had really huge state income tax bills and very big property taxes were able to claim a lot back from the federal government," Reeves told WNYC's Sean Carlson. "By imposing this $10,000 [cap], the very rich people at the top are not able to do that."
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