Category: SALT Deduction

Supreme Court Declines New York’s Challenge to Trump-Era Federal Cap on State and Local Tax Deductions

April 18, 2022
ConnecticuteconomyFeatured TopicsFederal-State Relationsincome taxJudiciaryLocal NewsMarylandNew JerseyNew YorkNY PoliticsPolicies & ImpactsRegional-Local NewsSALT DeductionSupreme CourtUS
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The Supreme Court decided on April 18 not to hear an appeal from New York and three other Democrat-dominated northeastern states that were challenging the cap on state and local tax (SALT) deductions imposed by President Donald Trump’s 2017 tax law. The case is New York v. Yellen, court file 21-966. Janet Yellen was being…

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Blue States Ask Supreme Court to Review SALT Tax Deduction Caps

January 5, 2022
ConnecticutJudiciaryKathy HochulLetitia JamesMarylandNew JerseyNew YorkPolicies & ImpactsPoliticsRegional-Local NewsSALT DeductionSupreme CourtUS
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After losing in the lower courts, four Democratic-dominated northeastern states are asking the Supreme Court to consider their legal challenge to the cap on state and local tax (SALT) deductions imposed by then-President Donald Trump’s 2017 tax law. The case is New York v. Yellen. Janet Yellen is being sued in her official capacity as secretary…

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Low SALT Deduction Also Slams California Middle Class

December 3, 2021
CaliforniaLocal NewsOpinionRegional-Local NewsSALT DeductionSouthern CaliforniaUSViewpoints
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Commentary As Congress continues to debate the SALT deduction and its effect on rich people, never discussed is how it also slams California’s middle class. SALT stands for “state and local taxes.” In 2017, then President Trump’s tax reform limited it to just $10,000. That meant wealthy people would pay more federal tax in high-tax…

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Citizens Continue to Exit High-Tax US States

December 2, 2021
income taxmigrationOpinionSALT DeductiontaxationtaxesViewpoints
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Commentary If you’re still wondering why raising the cap on the State and Local Tax (SALT) deduction was important enough to Democrats to sacrifice their stated principles and resort to brazen gimmicks in order to fit it into the reconciliation bill, look no further than the latest release of the IRS’s tax migration data, covering tax years 2018-2019. The data shows that…

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