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The Brian Lehrer Show

SALT Cap Trade-Offs

The Brian Lehrer Show

WNYC

Arts, Lerer, Radio, York, Wnyc, News, Media, New, Npr, Nyc, Bryan, News Commentary, Politics, Daily News, Public

4.71.4K Ratings

🗓️ 29 May 2025

⏱️ 44 minutes

🧾️ Download transcript

Summary

The impact of raising the cap on SALT (state and local tax) deductions that benefit many New York and New Jersey taxpayers.

Transcript

Click on a timestamp to play from that location

0:00.0

It's the Brian Laris show on WNYC. Good morning, everyone. Here's an always, sometimes,

0:16.0

never question for you. Relevant to national politics right now and very relevant to New York, New Jersey,

0:21.5

and Connecticut. It's about the salt deduction. That is, deducting state and local taxes,

0:27.4

acronym SALT, from your federal income tax. Before 2017, all state and local taxes were federally

0:35.3

tax deductible. The Trump tax changes that year, 2017,

0:40.0

limited the salt deduction to the first $10,000 of state and local taxes. Now it's up for debate

0:46.2

again as part of the big tax cut and spending cut and borrowing bill being debated in Congress

0:52.1

that President Trump wants.

1:02.5

The House voted, as many of you know, to raise the cap to the first $40,000 of state and local taxes.

1:07.4

Reportedly, it might be hard to get that increase through the Republican Senate.

1:09.6

So, listeners, you weigh in.

1:13.6

State and local income taxes should be federally tax deductible. I said income taxes. It's all state and local taxes should be federally tax deductible

1:20.7

always, sometimes, or never. 212, 433, WNBC, 212, 433, 9N.N.Y. 212, 433-92-433-92, call or text. To help explain what that is and the arguments, as well as the economics of this, we have Andrew Loutz, Associate Director for the Economic Policy Program at the think tank called the Bipartisan Policy Center,

1:44.9

which does aim for bipartisan national policies as much as they can.

1:50.9

The salt issue crosses party lines in its unique way, as many of you in the New York area know,

1:58.8

with many New York area and California Democrats and Republicans

2:03.3

working together on this, while others on both the left and the right oppose the deduction.

2:09.7

Andrew, thanks for coming on. Welcome to WNYC. Thanks so much for having me, Brian.

2:14.7

And listeners, depending on how many calls we get on salt, we may get to some

2:18.1

of Andrew's other recent writing about other aspects of the tax bill or the tariffs and the

2:26.2

big court decision yesterday on Trump's tariffs. So again, listeners, your questions about salt

2:33.2

are welcome, but also your opinion.

...

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