Bloomberg: SALT Cap Revolt Led by N.Y. Democrats Snarls Biden Spending Plan
media mentionA study released Tuesday showed that the cap also would disproportionately benefit White families over non-White households, further complicating the Biden administration’s plans to make racial equity a core plank of any economic proposal. The study by the left-leaning Institute on Taxation and Economic Policy showed that more than 72% of the tax cuts from repealing the SALT cap would flow to White families, which account for 67% of all taxpayers, according to the study which is based on tax return and survey data.