Description

U.S. Senate Democratic Leader Charles E. Schumer calls on Republicans to drop their effort to repeal the state and local tax (SALT) deduction as a part of their tax plan. Schumer says that roughly 40 million Americans in states all across the country take advantage of this deduction, and repeal could result in more than $1 trillion in losses for taxpayers and their local communities. Schumer says the GOP’s plan to use this money to fund massive tax breaks for the top 1 percent, and would mean millions of hardworking Americans in every state could face tax increases in the thousands of dollars. Schumer highlights a newly released state-by-state report to show just how devastating this move by the GOP would be for states and local municipalities across the country.