(AP Photo/Alex Brandon)
Former President Donald Trump reversed course on a major part of his 2017 tax program, capping the state and local tax deduction at $10,000. Trump announced the stunning flip-flop in a Truth Social post on Tuesday, in which he hyped an upcoming rally in New York state and boasted he is in striking distance of winning the Democratic stronghold.
“Nassau Coliseum, on Long Island, will be a really big deal tomorrow. It will be PACKED with Patriots! We have a real chance of winning, for the first time in many decades, New York,” Trump began, adding:
Hundreds of thousands of Migrants, Crime at record levels, Terrorists pouring in, Inflation eating your hearts out – WHAT THE HELL DO YOU HAVE TO LOSE? VOTE FOR TRUMP! 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. People are fleeing, maybe we’ll get them to “flee back!”
Senate Majority Leader Chuck Schumer (D-NY) replied to Trump’s promise to end his cap on SALT saying, “I’ve always been for eliminating the cap on SALT. I think it was a nasty piece of legislation, supported by Donald Trump, aimed at the blue states, which help the people of their states in many ways.”
The Hill’s Tobias Burns explained the politics of the SALT deduction cap, writing, “The SALT deduction cap — which stands for State And Local Tax — was instituted at $10,000 in the 2017 Trump tax cuts and was deeply unpopular in Democratic states, where the deduction was used as a tax break by many higher income households.”
Below are some reactions to Trump’s surprise reversal:
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