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Dems seek to repeal cap on SALT deduction

Chuck Schumer (Credit: Bisnow/Ethan Rothstein)

House Democrats released their phase 4 coronavirus relief proposal that would provide billions of additional aid to state and local governments, hospitals, and other Democratic priorities. The bill hasn’t been negotiated with Republicans, and will therefore fall short in the Senate.

  • Why it matters: Tucked away in the bill is a measure that would reinstate the SALT deduction for 2020 and 2021. This reiterates the Democrats’ intention to repeal this unpopular element of the tax overhaul. The SALT cap is supposed to remain in place until the end of 2025, CNBC noted.
  • Worth Noting: The White House says it wants to evaluate the economic impact of reopening before passing another massive stimulus bill, according to Axios.

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