Senate Majority Leader Chuck Schumer criticized former President Donald Trump for his announcement to support reversing the cap on the state and local tax deduction, known as SALT. Trump made this declaration ahead of a rally on Long Island, an area significantly impacted by the cap that was implemented as part of a major tax bill in 2017.
Schumer, speaking on the Senate floor, described the cap on the deduction as a targeted measure against blue states that aim to allocate more funds towards housing, healthcare, education, and transportation. He accused Trump of conveniently changing his stance when in Long Island, labeling it as 'selective amnesia.'
The New York Democrat doubted Trump's commitment, suggesting that his promise to reverse the SALT cap would not materialize if he were to regain the presidency. Schumer criticized Trump's integrity, likening his promises to 'Monopoly money.'
Expressing his support for eliminating the SALT cap, Schumer vowed to do everything in his capacity as leader to ensure that the caps expire by the end of the following year.
The SALT cap, included by Trump and congressional Republicans in the Tax Cuts and Jobs Act, restricts a taxpayer's state and local tax deduction to $10,000. This provision primarily impacts higher-income individuals in high-tax blue states who itemize their deductions. Despite its intended purpose, the cap has faced backlash, prompting some GOP representatives in affected states to advocate for its removal as the party aims to retain control of the House in the upcoming election.
