Suozzi Pushes To Repeal SALT Cap For Homeowners
New York Democratic Congressman Tom Suozzi said he will resubmit legislation in January under the new Biden administration to repeal a $10,000 cap on state and local tax deductions on federal tax returns, known as SALT.The SALT cap was put in place nearly four years ago by Republicans under the Trump administration. Suozzi said the goal was to “undermine” blue states, like New York.
Suozzi plans to issue a report by April to identify New Yorkers who contribute at least $1,000 to members of Congress who oppose the repeal, which he said, hurts their home state.
“Anybody who supports the cap of the SALT deduction is hurting New York. I am calling on New Yorkers to stop funding those politicians killing our state, killing our city, killing New York," Suozzi said. "We need to make sure we hold them accountable."
On Long Island, nearly 530,000 homeowners are affected by the cap. Half live in Suozzi’s district. The average homeowner would claim $18,300 a year, if the cap was repealed.