Former President Donald Trump vowed Tuesday to restore the state and local tax deduction that he previously clawed back during his first term in hopes of appealing to blue New York ahead of his Long Island rally.
The SALT deduction enables taxpayers to deduct their state and local taxes from the adjusted gross income on their federal income taxes.
Trump, 78, previously signed the Tax Cuts and Jobs Act of 2017, which capped SALT at $10,000, disproportionately affecting blue states with higher taxes, like the Empire State.
“I will turn it around, get SALT back, lower your Taxes, and so much more. I’ll work with the Democrat Governor and Mayor, and make sure the funding is there to bring New York State back to levels it hasn’t seen for 50 years,” Trump pledged on Truth Social.
Read more at https://nypost.com/2024/09/17/us-news/trump-pledges-to-restore-salt-deduction-ahead-of-ny-rally/
#donaldtrump #taxes #election #politics
The New York Post is your source for breaking news, news about New York, sports, business, entertainment, opinion, real estate, culture, fashion, and more.
Subscribe to New York Post Sports: https://www.youtube.com/c/nypostsports
Catch the latest news here: https://nypost.com/
Follow The New York Post on:
Twitter - https://twitter.com/nypost
Facebook - https://www.facebook.com/NYPost