SUOZZI: “NO SALT, NO DEAL” - WILL STILL OPPOSE ANY CHANGES TO TAX CODE UNLESS CAP ON SALT DEDUCTION IS REPEALED
With the House Ways and Means Committee set to advance the tax portion of the budget reconciliation package this week, Congressman Tom Suozzi (D-Long Island, Queens) announced that he still stands by his original call that he will not vote for any changes to the tax code unless the State and Local Tax Deduction (SALT) is restored.
Since the cap on the SALT deduction was instated in 2017, Suozzi has fiercely advocated for the repeal of the cap and has highlighted how it has hurt middle-class families, union families, and undermined the ability of state and local governments to provide robust public service and social assistance/programs in high cost of living states like New York. In addition, the repeal of the cap would lower the taxes of New Yorkers and middle-class New Yorkers by $15 billion per year.
“No SALT, no deal. I stand by my call that I will not support any change in the tax code unless there is a restoration of the SALT deduction. The cap on the SALT deduction has been a body blow to the state and middle-class families of New York. In fact, the repeal of the cap would lower the taxes of New Yorkers by upwards of $12 billion a year. That’s just about as much federal aid as any relief program the federal government could provide to New Yorkers. I simply cannot stand by while the hardworking people across all of New York are hurting because of the SALT cap.”
Suozzi’s major efforts on repealing the SALT cap:
Then Majority Leader Mitch McConnell refuses to act on this legislation which would provide relief to middle class families in high cost of living states
During the event, Schumer said: “When we get in the majority we’ll do it permanently,” referencing repeal on the SALT cap
Legislation has over 100 bipartisan cosponsors across both chambers and is supported by major unions and middle-class advocacy groups
2021: After continuing to hear from middle class constituents hurting from the SALT cap, Suozzi leads three other members in ‘No SALT, No Deal’ pledge and will oppose any changes to the tax code without restoration of the SALT deduction