Schumer: SALT deduction cap is crippling New York families
Schumer says the current $10,000 deduction cap is hurting middle-class families, including teachers, firefighters and police officers.
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Sen. Charles Schumer (D-NY) is speaking out against the cap on state and local tax deductions, saying it is crippling families.
Schumer says the current $10,000 deduction cap is hurting middle-class families, including teachers, firefighters and police officers.
"These harmful policies double tax, hardworking New Yorkers. They have hurt so many middle-class families... particularly in higher cost areas like Long Island and the Hudson Valley of New York," says Schumer.
The proposal to restrict SALT deductions for corporations in exchange for easing the cap on deductions for individuals and families is currently being debated in the Senate.
