By denying the full SALT deduction, you are making it more expensive to buy homes, you are having a lower resale value, it is a loss of net worth, plus there is about a 1 percent hit because of the higher interest rates that are going to come because your tax bill of $2 trillion is on the collar. Madam Speaker, I strongly urge my colleagues to look at this to see how pervasive the hit is, not just to their income tax, but to their most precious asset, their home value.
Earl Blumenauer: “By denying the full SALT deduction, you are making it more expensive to buy homes, you are having a lower resale value…”
On the recordDecember 19, 2019
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