Trump Pledges SALT Cap Repeal in Campaign

Former President Donald Trump has promised to restore the state and local tax (SALT) deduction he previously capped during his presidency, as he campaigns to win New York in the upcoming election. The 2017 Tax Cuts and Jobs Act, signed by Trump, limited SALT deductions to $10,000, disproportionately impacting high-tax blue states like New York and New Jersey. Trump’s pledge has sparked reactions from both Republicans and Democrats, with some seeing it as a move to gain favor in traditionally Democratic areas. Senate Majority Leader Chuck Schumer and other New York politicians have long opposed the SALT cap and welcomed Trump's reversal, although skepticism remains about his commitment. The policy shift comes ahead of a Long Island rally and aims to address issues such as high taxes, crime, and immigration in New York. However, it is uncertain whether a Republican-led Congress would support lifting the SALT cap, given the mixed opinions within the party.