Trump Flip-Flops, Pledges to Reinstate SALT Deduction from 2017 Tax Law if Elected

Sep 17, 2024, 06:44 PM

Former President Donald Trump, who initially capped the state and local tax (SALT) deduction at $10,000 as part of his 2017 tax reform, has announced that he will seek to reinstate the full SALT deduction if elected president. This move comes ahead of his rally in Long Island, New York, where the SALT deduction is a significant issue. Most Republicans oppose reinstating the SALT deduction, criticizing Democrats for their support of it. Trump's reversal on this policy has been noted as a significant shift, given his previous stance and the impact of the cap on high-tax states like New York. Critics have labeled this as another instance of Trump's flip-flopping and regressive tax changes, benefiting rich homeowners.