Repealing the SALT Deduction Cap
Washington, D.C., January 21, 2021
Tags: Jobs and the Economy
If we want to remain a prosperous nation, we must have economic growth and security. One of my top priorities in Congress is repealing the State and Local Tax (SALT) deduction cap. The SALT deduction cap, included in the Tax Cuts and Jobs Act of 2017, punishes hardworking Californians who are already harmed enough by our state’s ridiculous tax rates. This is why the first bill I introduced in Congress, H.R. 202, the SALT Fairness Act, would repeal the unfair SALT deduction cap.
California’s ridiculous tax rates paired with the SALT deduction cap have made Californians run for the hills – and I don’t mean the Hollywood Hills. We have seen a record number of Californians leave the state in recent years due to these suffocating taxes, unaffordable energy costs, and sky-high living costs.
The SALT deduction cap harms hardworking middle-class families in California’s 25th District. In our state, a middle-class married couple can quickly hit the cap if they work and own a home. Removing the cap would put thousands of dollars of people’s hard-earned money back in their pockets.
I am a big believer in Reaganomics, in other words cutting taxes and limiting government. And while our state drastically needs to cut taxes, Californians can’t wait any longer for economic relief. I will continue to fight to repeal the SALT deduction cap and to lower taxes. We must ensure that our state and nation continue to have economic growth and security and that Californians can keep more of their hard-earned money.