The tax break in question is known as the state and local tax (SALT) deduction, which former President Donald Trump and Republican lawmakers capped at $10,000 as part of their 2017 tax law.
@jonathanvswan: What if Dems reinstate “the SALT, which is a tax break for rich people in blue states?
”@SenSanders: "It sends a terrible, terrible message...You can't be on the side of the wealthy and the powerful if you're gonna really fight for working families."
ITEP estimated that temporarily suspending the cap would cost more than $90 billion in just one year.
"In every state and the District of Columbia, more than half of the benefits would go to the richest 5% of taxpayers.
In all but six states, more than half of the benefits would go to the richest 1%.
"Personally," Ocasio-Cortez added, "I can't stress how much that I believe that is a giveaway to the rich. »