Michelle Steel: “I thank Congressman Suozzi for leading this important tax matter. It is very important to our constituents. Taxpayers in…”

“I thank Congressman Suozzi for leading this important tax matter. It is very important to our constituents. Taxpayers in California's 48th Congressional District, which I am proud to represent, were responsible for 19.8 percent of all SALT deductions in 2018. The average SALT deduction lost in my district was $28,532. In a place like Orange County, where we already pay some of the highest taxes in the country, this cap takes more money from hardworking families. There were great improvements made in the 2017 tax reform law, like simplifying the tax code and making the corporate tax rate more on par with other nations. But it also chose winners and losers; and, unfortunately, those in high-cost-of-living States, like in New York and California, are paying the price. This is a bipartisan issue because we know how much this affects hardworking families in these high-cost States. I do think we can make progress on this, but not at the cost of raising taxes on Americans and American businesses, especially at a time when we are working to rebuild our local economies and get businesses back open. This is a bipartisan issue. We can't muddy the water by adding it to partisan legislation that will pass on party line only. I don't want to see additional tax gimmicks come before Congress. I want the deduction back on the table. I am proud to support two pieces of legislation that would fully repeal the SALT cap.…”