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Which political party will primarily support Trump's proposal to repeal the $10,000 SALT cap by the end of 2024?
3
Resolution / Starting Odds
Primarily Republican support • 25%
Primarily Democratic support • 25%
Bipartisan support • 25%
No significant support • 25%
Public statements and voting records from political parties
Story
Trump Vows to Repeal $10,000 SALT Cap, Restore Homeowner Tax Break
Sep 17, 2024, 07:36 PM
Former President Donald Trump has announced plans to repeal the $10,000 cap on state and local tax (SALT) deductions, a policy he originally implemented as part of his 2017 tax package. This move marks a significant reversal of his previous stance and comes ahead of his rally in Long Island, New York, where the SALT deduction is a critical issue. Trump's proposal has sparked reactions from both sides of the political spectrum. Sen. Mike Crapo, the ranking GOP member on the Senate Finance Committee, expressed support for extending the current cap, although he noted that 'everything is up for negotiations.' Democrats, who have long opposed the SALT cap, now find their leverage in negotiations potentially undermined by Trump's new position. The proposal is seen as a major boost to high-tax states such as New York, but it has also raised questions about its impact on tax policy and fiscal responsibility. Most Republicans oppose reinstating the homeowner tax break.
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Similar markets
Support full reversal • 25%
Support maintaining the cap • 25%
Support increasing but not fully reversing the cap • 25%
Other • 25%
Yes • 50%
No • 50%
Democratic Party • 33%
Republican Party • 33%
Equal support from both parties • 33%
Yes • 50%
No • 50%
SALT deduction fully reinstated • 25%
SALT deduction partially reinstated • 25%
No change to SALT deduction • 25%
Other outcome • 25%
Yes, the cap will be reversed • 25%
No, the cap will remain • 25%
The cap will be increased but not fully reversed • 25%
Other • 25%
Democratic Party • 25%
Republican Party • 25%
Both equally • 25%
Neither • 25%
Republican support • 25%
Democratic opposition • 25%
Bipartisan support • 25%
Bipartisan opposition • 25%
Support reinstating full SALT deduction • 25%
Oppose reinstating full SALT deduction • 25%
Neutral/No clear stance • 25%
Other stance • 25%
Trump wins New York • 25%
Trump loses New York but wins overall • 25%
Trump loses both New York and overall • 25%
Other outcome • 25%
Republicans only • 25%
Democrats only • 25%
Bipartisan support • 25%
No significant support • 25%