SALT-Cap Talks Falter as Sanders, Menendez Negotiate Details

Nov. 29, 2021, 11:57 PM

Negotiations in the Senate over expanding the state and local tax deduction hit a new snag with two key lawmakers at odds over whether the plan should raise revenue for other spending priorities in President Joe Biden’s economic agenda.

Senator Bob Menendez, a New Jersey Democrat, told reporters Monday that Senator Bernie Sanders has “walked away” from a previously-agreed-to plan that changes to the deduction be revenue neutral over the 10-year budget window, which would allow for a more generous tax break.

Sanders said on Monday he wants the reworked SALT deduction to raise revenue -- which he ...

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