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Democrats Giving Up On Their Massive Tax Break For Millionaires?

One of our high priorities at CTUP is to stop the resurrection of the state and local tax deduction for wealthy residents of high tax blue states. As we’ve reported many times, Democrats from California and the northeast have been insistent on bringing back the SALT deduction – because it gives further reason for rich people to leave. But many other Democrats see the rank hypocrisy of a party that preaches “tax fairness,” to pass the most expensive tax loophole for millionaires in the history of the income tax.

Good news: Two Democratic Senators told The Hill yesterday that talks to revive reconciliation have left any SALT changes on the cutting room floor.

But where does this leave the dozen or so House Democrats who demanded SALT changes as a condition of moving forward with any tax bill? Where will Pelosi get the votes to pass any SALT-free tax bill through the House?

But even the Senate could be a problem. We remind Senator Menendez of his previous position, and we hope he sticks to his guns. NO TAX INCREASE BILL IN 2022.

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