Sanders: If SALT Deduction Is Reinstated, It Sends ‘A Terrible, Terrible Message’
Sen. Bernie Sanders (I-Vt.) claims if the state and local tax (SALT) deduction is reinstated it would send “a terrible, terrible message.” Axios reporter Jonathan Swan noted during an interview that House Speaker Nancy…
Sen. Bernie Sanders (I-Vt.) claims if the state and local tax (SALT) deduction is reinstated it would send “a terrible, terrible message.”
Axios reporter Jonathan Swan noted during an interview that House Speaker Nancy Pelosi (D-Calif.) and Senate Majority Leader Chuck Schumer (D-N.Y.) want to restore the SALT deduction, giving “a tax break for rich people in blue states.”
“It sends a terrible, terrible message,” Sanders said during the interview, which aired on Sunday.
He continued, “Ultimately what you have got to do, and in fairness to Schumer and Pelosi, it is hard when you have tiny margins, but you have got to make it clear which side you are on, and you can’t be on the side of the wealthy and powerful if you’re going to really fight for working families.”
Watch his comments below:
More and more lawmakers have recently expressed their opposition to the $10,000 cap on SALT deductions implemented in 2017 as part of former President Donald Trump’s tax legislation.
According to the nonpartisan Joint Committee on Taxation, removing the cap would cost around $88.7 billion in 2021 and even more in the coming years.