NEW YORK - Congressman Tom Suozzi (D-NY) is sending a clear message to elected officials and constituents alike that there must be a restoration of the SALT - short for State and Local Tax deduction for his support of the $3.5 trillion reconciliation package.
"New York State has to be more attractive and competitive but in the short term we have to put the SALT back," Suozzi said.
A cap was placed on the SALT deduction in 2017 as part of the Republican tax cut legislation - only allowing homeowners to deduct $10k from state and local taxes which hurt a lot of middle-class families in high tax states like New York.
Suozzi, a Democrat, whose calls for reinstating SALT existential for New York has recruited over 30 bipartisan members of Congress who have advocated for a repeal of the cap.
"People are moving away from their hometowns. This has a real-life impact on real people," he said.
But across the country, people in other states see SALT deductions solely benefitting the wealthy. However, advocates argue that reinstating it would be fairer.
There are reports the SALT deduction may be included in legislation but only until 2025. Suozzi is pushing for a full repeal.