Political Quotes

“Tonight, over the next hour, I, along with my colleagues from both sides of the aisle, will rise to advocate for the repeal of the unjust and unfair SALT cap and the full restoration of the SALT deduction. There are five basic arguments that I, along with my colleagues, will flesh out over the next hour. One, the SALT cap was specifically and unjustly targeted against the residents of New York, New Jersey, California, Connecticut, Illinois, Massachusetts, Maryland, Minnesota, Michigan, Oregon, Pennsylvania, Virginia, Rhode Island, Hawaii, and other congressional districts with high local and State taxes. Two, middle-class families, which in these States can earn between $100,000 and $200,000 per year, are disproportionately impacted in a negative way. Three, these same middle-class families, as well as wealthy families, are incentivized by the loss of the SALT deduction to leave States with high State and local taxes, thereby leaving a gaping hole in the revenues that are used by these same States to fund their programs. When wealthy individuals and families leave our States because they have been incentivized to leave because of the loss of the SALT deduction, it is middle-class and low-income people who are left behind to hold the bag. Because of the gap in revenues, they will either face higher taxes, which is unacceptable and unsustainable, or reduced services, which is unlikely.…”