On Monday’s broadcast of Bloomberg’s “Balance of Power,” Rep. Mike Lawler (R-NY) stated that the current SALT provision in the Republican tax proposal “is just woefully inadequate.” And he would vote against the bill as it currently stands. He also argued that there is no need to find money to pay for the SALT deduction since the deduction would come back with no limits if no bill passes and because “SALT was a pay-for for other provisions of the Tax Cuts and Jobs Act”, putting a cap in place is a pay-for for other things.
Lawler stated, “Look, as I said from the beginning, I would not support a tax bill that does not adequately address the unfair $10,000 cap that was put in place under the 2017 Tax Cuts and Jobs Act. Remember, when the Tax Cuts and Jobs Act expires at the end of this year, SALT comes back unlimited. And so, in order for there to be a tax bill that would actually put a cap in place, it has to adequately address the concerns of my constituents. There are other provisions, obviously, that we want to make sure do not come back, for instance, the alternative minimum tax. And that’s why we’re willing to negotiate and have been trying to do that in good faith for months. But this bill, as written, with a $30,000 cap for those making under 400,000 is just woefully inadequate. And so, no, this does not have my support, it will not have my support, and if this bill comes to the floor for a vote, I will vote no.”
Later, he added, “SALT was a pay-for for other provisions of the Tax Cuts and Jobs Act. And so, to somehow try to play both sides of this and say, well, it’s a pay-for, but you have to pay for the pay-for, that’s a joke. The fact is that putting a cap in place serves as a pay-for. So, we don’t have to find a dime for it. What we are putting in place, with a cap, helps pay for other provisions within the tax bill.”
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