North Cook News

WASHINGTON— Lasts week, Congressman Raja Krishnamoorthi joined with Reps. Young Kim (CA-40.), Andrew Garbarino (NY-02), Josh Gottheimer (NJ-05), Brad Schneider (IL-10), and other colleagues to introduce the bipartisan Securing Access to Lower Taxes by ensuring Deductibility (SALT Deductibility) Act which will fully repeal the cap on state and local tax deductions, providing much needed relief for families across Illinois and the country. Before the tax code change in 2017, millions of Americans were allowed to deduct certain state and local taxes when filing their yearly returns, thereby potentially saving families tens of thousands of dollars each year by excluding income already taken in taxes for state and local services. However, following the passage of the Tax Cuts and Jobs Act of 2017, a cap of $10,000 was placed on SALT deductions, leaving many families paying more in taxes every year than necessary. Illinoisans were among the top benefiting Americans from SALT deductions prior to the change.

“I’m proud to join with colleagues from both parties to introduce this legislation to reduce taxes for middle class families by repealing the cap on the state and local tax (SALT) deduction,” said Congressman Raja Krishnamoorthi. “Since it became law in 2017, despite my firm opposition, the cap on the SALT deduction has arbitrarily raised taxes on my constituents by an average of thousands of dollars each year. I urge all my colleagues in the Illinois delegation, and across the country, to embrace this legislation on behalf of working and middle class Americans, and to help pass it into law.”

“Southern Californians shouldn’t have to pay more federal taxes on top of their already high state taxes and rising costs of living and housing,”  Congresswoman Kim said. “We must act to right this wrong, which is why I am fighting to repeal the current cap on SALT deductions and lower taxes for my constituents. There are many of my colleagues on both sides of the aisle from states across the country whose constituents are unfairly hurt by the current cap on SALT deductions. I will keep working with my colleagues on both sides of the aisle to get this across the finish line.”  

"The SALT deduction cap has devastated my community by placing an unfair financial burden on Long Islanders and on taxpayers across the country,"  Congressman Garbarino said. "Long Islanders pay some of the highest property taxes in the country and, for the hardworking middle-class families in my district, the $10,000 cap means they are only able to deduct a fraction of what they pay from their federal income taxes. I am talking about police officers, firefighters, nurses, teachers, and small businesses owners who are being double taxed on money that was never available to them. This injustice has gone on long enough and, with this bipartisan legislation, we can finally right that wrong and provide much needed tax relief to millions of Americans." 

Original cosponsors of the bill include Reps. Anthony D'Esposito (NY-03), Marc Molinaro (NY-19), Pat Ryan (NY-18), Tom Kean Jr. (NJ-07), Eric Swalwell (CA-14), Grace Meng (NY-06), Joe Morelle (NY-25), Sean Casten (IL-06), Dean Phillips (MN-03), Paul Tonko (NY-20), Zoe Lofgren (CA-18), Betty McCollum (MN-04), Salud Carbajal (CA-24), Bonnie Watson Coleman (NJ-12), Jake Auchincloss (MA-04), Bill Foster (IL-11), Suzanne Bonamici (OR-01), Linda Sanchez (CA-38), Mikie Sherrill (NJ-11), Andy Kim (NY-03), Nick LaLota (NY-01), and Mike Levin (CA-49). 

Original source can be found here.