The SALT Deduction: How “Tax Relief for Homeowners” Became Another Giveaway to the Rich.
Today we’re diving into one of the most contentious tax battles happening in Washington right now—the State and Local Tax deduction (SALT). Now, if you’ve been hearing politicians talk about “tax relief for hard-working homeowners” or “supporting middle-class families,” you might think this sounds pretty good, right?
But here’s the thing— like so many tax policies that sound great on the surface, the SALT deduction is actually one of the most regressive tax breaks in our entire system. We’re talking about a policy that overwhelmingly benefits wealthy households while doing absolutely nothing for the majority of Americans. And right now, Congress is debating whether to make this tax break even more generous.
Resources
Brookings: The SALT tax deduction is a handout to the rich. It should be eliminated not expanded
CNBC: Trump’s ‘big beautiful bill’ passes SALT deduction limit of $40,000. Here’s who benefits
Forvis Mazars: Be Wary of Pre-Emptive Tax Planning on Itemized Deductions & SALT
TIME: A Wonky Tax Break for the Well-Off Is a Bigger Problem for Democrats Than You'd Think
Gottheimer: RELEASE: SALT Caucus Co-Chairs, Members Meet & Discuss Fight to Restore State and Local Tax Deduction
Tax Foundation: A More Generous SALT Deduction Cap in the Big, Beautiful Bill Would Cost Revenue and Primarily Benefit High Earners
RSM US: Bill limits SALT deductions for some financial and professional services firms
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