Democrats released the first look at proposed tax changes for their multitrillion-dollar spending plan, and glaringly absent were changes to the SALT cap .
A vocal contingent of congressional Democrats in high-tax states have pressed for the proposed $3.5 trillion package to raise the cap on federal tax deductions for paid state and local taxes, a move that would result in tax cuts for the wealthy.
While changes to the cap were not included in Monday’s revenue-raising blueprints, those pushing for the cap to be raised or repealed are indicating that it is not the end of the push. Those on the so-called “SALT caucus” will continue pressuring House leadership to include the cuts for their constituents.
In a joint statement after the tax plan’s release, Ways and Means Committee Chairman Richard Neal of Massachusetts, Rep. Bill Pascrell