Republican Agenda Hits Familiar Obstacle: State and Local Taxes


Gerhard Randers-Pehrson, an 81-year-old resident of Ossining, N.Y., believes the $10,000 cap should go up — but not too much. While Mr. Randers-Pehrson, a retired research scientist, said he paid $16,000 in state and local taxes last year, he does not expect to personally benefit from a higher cap. He would take the standard deduction instead of itemizing. But the issue still bothers him.

“I don’t think we should punish areas that try to do right by the municipal services they provide,” he said. His congressman, Representative Mike Lawler, a Republican and one of the holdouts on the issue, has proposed lifting the cap to $100,000 for individuals and $200,000 for married couples. Mr. Randers-Perhson believes such an increase would be too high.

Even among Republicans who want to raise the limit, agreeing on a demand has been a challenge.

Representative Jeff Van Drew, Republican of New Jersey, has said that a cap around $30,000 or $40,000 would be acceptable, while a group of four New York Republicans put out a statement on Thursday calling a $30,000 cap “insulting.” Representative Young Kim, Republican of California, recently floated a $62,000 deduction per individual. Representative Nicole Malliotakis, a New York Republican on the Ways and Means Committee, meanwhile, has suggested that Americans under a certain income limit should be able to take the full deduction.

“I was always focused on people that I represent in Staten Island and Brooklyn, who mostly all make under $500,000,” she said.

House Republican leaders remain optimistic they can thread the needle. Beyond SALT, they are also grappling with a last-minute push from Mr. Trump to raise taxes on the rich, though the president appeared to again back away from that idea in a social media post on Friday. “Republicans should probably not do it, but I’m OK if they do!” the president wrote.



Source link

Latest

Satya Nadella insists people are using Microsoft’s Copilot AI a lot  

Microsoft delivered a solid earnings report on Wednesday...

Patriots vs. Seahawks channel, start time, where to stream and more

Drake Maye and the New England Patriots face...

Google settles Android data usage, Assistant privacy lawsuits

Over the past week, Google has settled two...

Fox News poll: Majority believe country’s economy is in ‘bad shape’

A Fox News poll is signaling widespread economic...

Newsletter

Don't miss

Satya Nadella insists people are using Microsoft’s Copilot AI a lot  

Microsoft delivered a solid earnings report on Wednesday...

Patriots vs. Seahawks channel, start time, where to stream and more

Drake Maye and the New England Patriots face...

Google settles Android data usage, Assistant privacy lawsuits

Over the past week, Google has settled two...

Fox News poll: Majority believe country’s economy is in ‘bad shape’

A Fox News poll is signaling widespread economic...

Deezer makes it easier for rival platforms to take a stance against AI-generated music

Last year, Deezer introduced an AI detection tool...

Satya Nadella insists people are using Microsoft’s Copilot AI a lot  

Microsoft delivered a solid earnings report on Wednesday with $81.3 billion in revenue for the quarter (up 17%), net income profits of $38.3...

Patriots vs. Seahawks channel, start time, where to stream and more

Drake Maye and the New England Patriots face Sam Darnold and the Seattle Seahawks at Super Bowl LX, which will be held at...

Google settles Android data usage, Assistant privacy lawsuits

Over the past week, Google has settled two class action lawsuits over Android privacy, one regarding data usage and the other around Assistant,...

LEAVE A REPLY

Please enter your comment!
Please enter your name here