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Arlington, Va. – Today, Americans for Prosperity (AFP) issued a key vote alert urging members of Congress to oppose H.R. 5377, which would suspend the $10,000 state and local tax (SALT) deduction cap for two years. Increasing this limit or reinstituting the full SALT deduction would not only make the tax code less fair and more complex, but also restore bad incentives for state governments to raise taxes.
Read the Key Vote Alert here.
In the key vote letter sent to lawmakers Monday, AFP Chief Government Affairs Officer Brent Gardner writes:
“H.R. 5377 would temporarily undo some of the many benefits of the Tax Cuts and Jobs Act. Temporarily increasing the cap on the SALT deduction (from $10,000 to $20,000) would make the tax code less fair and more complex, but also give increase bad incentives for state and local governments to raise taxes. The benefits of lifting the SALT cap would go to states with higher tax levels. Meanwhile, states with lower tax levels, like Florida and Texas, will be once again forced to subsidize the federal tax tab for states like New York, California, and New Jersey.
Moreover, H.R. 5377 would temporarily raise the top tax rate on the highest earners and increase the number of taxpayers paying that rate – one of the very groups that will benefit from lifting the SALT cap. This makes no sense.”
For further information or to set up an interview, please send an email to GCipriano@afphq.org.
Through broad-based grassroots outreach, Americans for Prosperity (AFP) is driving long-term solutions to the country’s biggest problems. AFP activists engage friends and neighbors on key issues and encourage them to take an active role in building a culture of mutual benefit, where people succeed by helping one another. AFP recruits and unites activists in 35 states behind a common goal of advancing policies that will help people improve their lives. For more information, visit www.AmericansForProsperity.org