“The majority of benefits from repealing the SALT cap just go to the 1 percent,” said Steve Wamhoff, a tax expert at the Institute on Taxation and Economic Policy. “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
November 3, 2021
Washington Post: Democrats look at expanding minimum tax on wealthy in exchange for state and local tax break
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