In a recent post on Truth Social, former President Donald Trump made a bold pledge to New York voters: reinstating the full state and local tax (SALT) deductions if he wins back the presidency. This proposal marks a significant shift from his previous stance in 2017 when he enacted a law that imposed a $10,000 cap on these deductions.
His initiative aims to attract support from New Yorkers by promising to address issues such as crime, immigration, and inflation that have impacted the state. Despite losing New York by significant margins in both the 2016 and 2020 elections, Trump remains optimistic about his chances against Democratic Vice President Kamala Harris in the upcoming Nov. 5 election.
Trump's campaign has been vague about the specifics of ending the SALT cap he once championed. When pressed for details, spokeswoman Karoline Leavitt emphasized Trump's commitment to "pro-growth, pro-energy policies" and tax relief for working individuals and seniors without directly addressing the SALT deduction issue.
The limitation on SALT deductions was a key feature of the 2017 Tax Cuts and Jobs Act—Trump's major legislative victory—which aimed to simplify the tax code and reduce overall tax rates. However, it sparked controversy for disproportionately affecting states with higher taxes, predominantly Democratic ones like New York and Connecticut. While some defend the cap as a measure against excessive benefits for the wealthy, its potential repeal raises debates about fiscal responsibility and fairness.
Vice President Harris has yet to outline her position on preserving or modifying the Trump-era tax provisions but has assured that she will not increase taxes for Americans earning under $400,000 annually. As discussions continue, analysts from organizations such as the Committee for a Responsible Federal Budget caution against hasty repeal of the SALT cap, citing concerns over cost and equity.
As election day approaches, Trump’s promise to "get SALT back" underscores his strategy to win over voters in traditionally Democratic strongholds by pledging to reverse his own policy—a move that reflects broader debates on tax reform and economic policy among candidates vying for political support.
His initiative aims to attract support from New Yorkers by promising to address issues such as crime, immigration, and inflation that have impacted the state. Despite losing New York by significant margins in both the 2016 and 2020 elections, Trump remains optimistic about his chances against Democratic Vice President Kamala Harris in the upcoming Nov. 5 election.
Trump's campaign has been vague about the specifics of ending the SALT cap he once championed. When pressed for details, spokeswoman Karoline Leavitt emphasized Trump's commitment to "pro-growth, pro-energy policies" and tax relief for working individuals and seniors without directly addressing the SALT deduction issue.
The limitation on SALT deductions was a key feature of the 2017 Tax Cuts and Jobs Act—Trump's major legislative victory—which aimed to simplify the tax code and reduce overall tax rates. However, it sparked controversy for disproportionately affecting states with higher taxes, predominantly Democratic ones like New York and Connecticut. While some defend the cap as a measure against excessive benefits for the wealthy, its potential repeal raises debates about fiscal responsibility and fairness.
Vice President Harris has yet to outline her position on preserving or modifying the Trump-era tax provisions but has assured that she will not increase taxes for Americans earning under $400,000 annually. As discussions continue, analysts from organizations such as the Committee for a Responsible Federal Budget caution against hasty repeal of the SALT cap, citing concerns over cost and equity.
As election day approaches, Trump’s promise to "get SALT back" underscores his strategy to win over voters in traditionally Democratic strongholds by pledging to reverse his own policy—a move that reflects broader debates on tax reform and economic policy among candidates vying for political support.
