SALT change likely to be cut from bill, say Senate Democrats
Added 01-26-22 11:56:02am EST - “Senate Democrats say a proposal to raise the cap on state and local tax (SALT) deductions, a top priority of Senate Majority Leader Charles Schumer (D-N.Y.), is likely to be cut from the revised Build Back Better Act.” - Thehill.com
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Senate Democrats say a proposal to raise the cap on state and local tax (SALT) deductions, a top priority of Senate Majority Leader Charles SchumerChuck SchumerVoting rights failed in the Senate — where do we go from here? Forced deadline spurs drastic tactic in Congress Democrats call on Biden administration to ease entry to US for at-risk Afghans MORE (D-N.Y.), is likely to be cut from the revised Build Back Better Act.
Senate Democrats who were involved in negotiations over the bill before Sen. Joe ManchinJoe ManchinBiden to meet with CEOs to discuss Build Back Better agenda Hoyer says 'significant' version of Build Back Better will pass this year Gallego went to New York to meet Sinema donors amid talk of primary challenge: report MORE (D-W.Va.) blew it up last month say there’s simply not enough room for the expensive tax change, which Republicans argue would benefit wealthy suburban households in blue states.
“Yeah, I think that’s dead,” said one Democratic senator, who requested anonymity to summarize early discussions about changing the bill to win Manchin’s support.
A second Democratic senator familiar with negotiations on the tax provisions of the legislation said Manchin has signaled to colleagues that he’s not a fan of changing the tax break.
It’s a blow for Schumer, who is up for reelection this year and pledged in 2020 to make repeal of the cap on SALT deductions a top priority if Democrats won control of the Senate.
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