Daily Tax Report ®

Democrats Considering Bill to Repeal SALT Cap Temporarily

Sept. 18, 2019, 5:24 PM

Rep. Bill Pascrell (D-N.J.) said a compromise bill being drafted by House Democrats may not call for permanent repeal of the $10,000 cap on state and local tax deductions but instead a repeal limited to three or four years.

  • “It may not be forever. It may simply be a three-year plan, four-year plan because it need not be beyond that,” Pascrell said. “Because, if we, god willing, if we take over the presidency, and the Senate, which is a possibility, we are going to be talking about total reform.”
  • Two other lawmakers have told Bloomberg Tax that a...
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