Katie Porter: “I am here today to champion tax fairness for every American across the country, across parties, and across the aisle. We…”

“I am here today to champion tax fairness for every American across the country, across parties, and across the aisle. We are here tonight to talk about what does it mean to have a fair tax system. Since coming to Congress, I have repeatedly heard from my constituents about how the Trump tax bill doubled the taxes they owe due to an arbitrary cap on allowable State and local tax deductions, often called SALT. In the last year before this arbitrary $10,000 cap was imposed, nearly two in five taxpayers in my district claimed the SALT deduction, and their average deduction was $22,000 per household. They were paying an average of $22,000 in State and local taxes. Capping the SALT deduction created double taxation on those families, and it penalized millions of middle-class families--Republicans, Democrats, and Independents alike--based solely on the State where they live. It is an unfair Federal tax system to penalize people based solely on their State of residence, yet that is what this arbitrary SALT tax cap does. Given the rising cost of housing, prescription drugs, college, and childcare, every dollar counts for American families and families in Orange County. This is especially true after a year of financial hardship during which millions of families across the country are struggling to stay afloat.…”