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SALT Cap Critics Ask Yellen to Add Repeal to Biden Economy Plan

April 21, 2021, 8:18 PM

Democrats are making another push for the Biden administration to include a repeal of the cap on state and local tax deductions in its long-term economic program, a move that would give the write-off a White House seal of approval.

Representative Josh Gottheimer, a New Jersey Democrat, sent a letter to Treasury Secretary Janet Yellen Wednesday making a plea to include repeal of the $10,000 cap on the SALT deduction in the administration’s proposals to pump trillions of dollars into the economy with spending initiatives in part funded by tax hikes.

President Joe Biden is expected to release the ...

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