January 12, 2018

Politico: The Progressive Skepticism on the SALT Run-Arounds:

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The progressive skepticism on the SALT run-arounds: The Institute on Taxation and Economic Policy has a new paper that says it’s understandable why states would try to make sure residents don’t face a tax hike under what it believes to be a horribly flawed law. But ITEP adds that most taxpayers facing the new cap would still get a tax cut under the GOP plan. “A deeper examination of some policies that state lawmakers are proposing to ‘work around’ the federal tax bill reveals that not only would states compound adequacy and equity problems the federal law created in the first place, they would also make it more difficult to raise revenue at the state level to fund critical priorities.” Read more