Giving property owners in New York more credit to write-off their federal taxes, if they itemize… that’s what New York’s Democratic delegation is asking of the new White House administration.
The delegates have submitted a special request to President Trump to remove the cap on the state and local tax deduction or SALT tax. It caps homeowner’s ability to get credit for paying state and local property taxes above $10,000 dollars with their earned income.
Senators Kirsten Gillibrand, Senate Minority Leader Chuck Schumer, and the state’s congressional delegation say a full SALT deduction would return more money into the pockets of hardworking New Yorkers.
Schumer has criticized the President and Republicans ever since dramatically reducing the SALT deduction eight years ago.