Emily
Editor, Senior Moderator
https://www.taxpolicycenter.org/tax...overwhelmingly-benefit-high-income-households
SALT Cap Repeal Would Overwhelmingly Benefit High Income Households
Households making $1 million or more a year would receive half the benefit of repealing the $10,000 federal cap on the state and local tax (SALT) deduction, according to new estimates by the Tax Policy Center. Seventy percent of the benefit would go to those making $500,000 or more.
At the same time, 96 percent of middle-income households, those making between about $52,000 and $93,000 annually, would get no tax reduction at all. The 4 percent that would benefit would receive an average tax cut of about $400.
By contrast, 93 percent of those making $1 million or more would get a tax cut, averaging about $48,000...
https://www.ncronline.org/news/opinion/signs-times/democrats-defend-tax-boon-rich-homeowners
SALT Cap Repeal Would Overwhelmingly Benefit High Income Households
Households making $1 million or more a year would receive half the benefit of repealing the $10,000 federal cap on the state and local tax (SALT) deduction, according to new estimates by the Tax Policy Center. Seventy percent of the benefit would go to those making $500,000 or more.
At the same time, 96 percent of middle-income households, those making between about $52,000 and $93,000 annually, would get no tax reduction at all. The 4 percent that would benefit would receive an average tax cut of about $400.
By contrast, 93 percent of those making $1 million or more would get a tax cut, averaging about $48,000...
https://www.ncronline.org/news/opinion/signs-times/democrats-defend-tax-boon-rich-homeowners