Newsmax: Dems Consider Upping Minimum Tax on Rich in Exchange for SALT Deduction Cap

Steve Wamhoff, an expert on taxes with the Institute on Taxation and Economic Policy, said that “the majority of benefits from repealing the SALT cap just go to the 1 percent. If BBB [the Build Back Better legislation] is amended to include that, we could be looking at a bill that cuts taxes for a lot of rich people — which is the opposite of what we’ve been led to expect.” Read more