In a post on Truth Social, Mr. Trump suggested he would restore the SALT deduction, emphasizing it would lower taxes for Americans in high-tax states.
Despite the broad appeal, restoring the SALT deduction would come at a staggering cost, with roughly $1 trillion in lost revenue projected over ten years.
In his recent tax proposals, Mr. Trump aims for significant tax cuts including no taxes on overtime, Social Security benefits, and tips, alongside restoring SALT.
Most of the tax benefits from restoring the SALT deduction would primarily benefit higher-income Americans, raising concerns about equity in tax policy.
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