GOP Tax Chief: Only $50 Billion for SALT in Budget

Rep. Jason Smith, R-Mo., chair of the House Ways and Means Committee, said there is only $50 billion available to increase the state and local tax deduction.

Rep. Mike Lawler, R-N.Y., and Rep. Nick LaLota, R-N.Y. are among those in the GOP in blue states who are threatening to vote against the budget reconciliation bill unless the SALT deduction is substantially increased.

The legislation calls for House Republicans to triple the SALT deduction from $10,000 to $30,000 and put a $400,000 income limit on the write-off, Politico reported. But that’s not good enough for the five Republicans, who also represent New Jersey and California. LaLota has called for the SALT cap to increase to $62,000 for individuals and $124,000 for married couples.

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