Tag Archives: state and local taxes

Point/Counterpoint

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I told you that the Tax Cut and Jobs Act (sic) was partly created (or maneuvered) as political retribution by the GOP against those states that don’t vote their way. (Here’s but one  example.)  Which was the driving force behind the plot to outlaw State and Local Tax (SALT) deductions of $ 10,001 or more.  Which would allow the U.S. Treasury collect some $ 650 billion more over the 8 years that this restriction is in effect.  (The personal tax rate changes under this Act expire in 2026.)

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