Our current tax code permits a deduction for real estate taxes - also known as a property tax. In 2017, the Trump administration passed a $1.9 trillion tax reduction bill, 86% of which benefitted corporations and the wealthy. This legislation capped federal deductions for state and local real estate and income taxes (SALT) at $10,000 a year and also eliminated some mortgage interest deductions. Advocates say this adversely affected homeowners in high cost-of-living areas where property taxes are much higher than other geographical regions. Critics argue it is a matter of fairness for residents in high-cost states, as the cap disproportionately affects them and can lead to them being "double-taxed".

Pending Legislation: H.R.430 - SALT Deductibility Act
Sponsor: Rep. Andrew Garbarino (NY)
Status: House Committee on Ways and Means
Chair: Rep. Jason Smith (MO)

• I oppose reforming current property tax deduction policy and wish to donate resources to the campaign committee of Speaker Mike Johnson (LA).
• I support completely repealing the $10,000 cap on the deduction for state and local taxes (SALT) by:
  
  1.) Removing the $10,000 limit on the deduction for state and local taxes.
  
  2.) Allowing taxpayers who itemize their deductions to deduct the full amount of state and local taxes they pay, as was the case before the 2017 Tax Cuts and Jobs Act.
  
  And wish to donate resources to the campaign committee of Rep. Jason Smith (MO) and/or to an advocate group currently working with this issue.