4.4 • 663 Ratings
🗓️ 29 May 2025
⏱️ 21 minutes
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0:00.0 | From WNYC Studios. |
0:07.3 | I'm Brian Lehrer. |
0:08.4 | This is my daily politics podcast. |
0:11.0 | It's Thursday, May 29th. |
0:15.3 | Here's an always, sometimes, never question for you. |
0:18.5 | Relevant to national politics right now and very relevant to |
0:21.8 | New York, New Jersey, and Connecticut. It's about the salt deduction, that is deducting state and |
0:27.3 | local taxes, acronym salt, from your federal income tax. Before 2017, all state and local taxes were |
0:35.8 | federally tax deductible. The Trump tax changes that year, 2017, |
0:41.2 | limited the salt deduction to the first $10,000 of state and local taxes. Now it's up for debate again |
0:47.9 | as part of the big tax cut and spending cut and borrowing bill being debated in Congress that President Trump wants. |
0:55.5 | The House voted, as many of you know, to raise the cap to the first $40,000 of state and |
1:02.8 | local taxes. |
1:04.2 | Reportedly, it might be hard to get that increase through the Republican Senate. |
1:08.9 | We have Andrew Loutes, associate director for the economic |
1:12.2 | policy program at the think tank called the Bipartisan Policy Center, which does aim for bipartisan |
1:18.6 | national policies as much as they can. The salt issue crosses party lines in its unique way, |
1:26.9 | as many of you in the New York area know, with many New York |
1:31.0 | area and California Democrats and Republicans working together on this, while others on both the |
1:38.4 | left and the right oppose the deduction. Andrew, thanks for coming on. Welcome to WNYC. |
1:44.0 | Thanks so much for having me, Brian. |
1:45.9 | Andrew, do you know the origin of the salt deduction like when state and local taxes became |
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