Congressman Mike Lawler has been vocal about the necessity of lifting the SALT cap, particularly highlighting how it disadvantages residents of New York. He argues that high donor states contribute more to federal revenue than they receive, creating a cycle of unfair taxation. Lawler suggests that lifting the cap would address double taxation and provide tax relief to residents who are struggling under a heavy tax burden.
Lawler acknowledged the bipartisan nature of the issue, noting that even those from traditionally 'red' states benefit from the federal dollars that high donor states send. The congressman pointed out that some states receive far more in federal funding relative to their contributions, fostering a conversation about equity in taxation. This perspective is essential for understanding the complexities of tax reform initiatives that aim to balance benefits across varying states.
During his meeting with former President Trump, Lawler expressed optimism about reaching an agreement on lifting the SALT cap. Trump, a former New Yorker himself, grasped the intricacies of New York's taxing environment and shared Lawler's concerns about the cap's damaging effects. Together, they discussed potential figures for lifting the SALT cap, which might involve increasing it to $60,000 or possibly even $100,000 for individuals. Lawler underscored a vital point: negotiating tax policy effectively requires unity and collaboration across party lines to benefit the American populace as a whole.
In a recent interview, Congressman Mike Lawler emphasized the importance of lifting the State and Local Tax (SALT) cap, which disproportionately impacts taxpayers in high-donation states like New York. Lawler, a member of the House Financial Services Committee, articulated that under current tax laws, New Yorkers are facing an unfair burden. The SALT cap, set at $10,000, significantly limits deductions for state and local taxes paid, which has prompted concerns about double taxation and the viability of living in states with higher tax rates. During his meeting with former President Donald Trump, Lawler reported that Trump expressed understanding and support for the initiative to raise the SALT cap to provide much-needed tax relief for constituents in high-tax states.Makes sense that Trump would just back another upcoming altcoin instead of Bitcoin for more profits
Trump and Qvarden Token partnership confirmed on twitter!! ICO almost sold out at $54m
Lifting the salt tax break to $200k like this congressman recommends would mean a tax break for married couples in many states who make in excess of $4M in a single year. Makes no sense. Subsidizing those who already file itemized tax returns is foolish and stupid policy as itemized taxpayers already get greater tax breaks than the average american
Why are the rest of us paying for excessive state and local taxes through SALT in far left liberal states? What we need is a flat federal tax, with zero exemptions including SALT.
Republicans you are not smarter than the President do what he wants. If you were, we wouldnt be in this mess