Schumer Calls Republicans To Drop Repeal Of State And Local Tax Deduction In GOP Tax Plan
October 5, 2017
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17:51Now PlayingSchumer Calls Republicans To Drop Repeal Of State And Local Tax Deduction In GOP Tax Plan
YouTube Description
as posted by the channelU.S. Senate Democratic Leader Charles E. Schumer calls on Republicans to drop their effort to repeal the state and local tax (SALT) deduction as a part of their tax plan. Schumer says that roughly 40 million Americans in states all across the country take advantage of this deduction, and repeal could result in more than $1 trillion in losses for taxpayers and their local communities. Schumer says the GOP’s plan to use this money to fund massive tax breaks for the top 1 percent, and would mean millions of hardworking Americans in every state could face tax increases in the thousands of dollars. Schumer highlights a newly released state-by-state report to show just how devastating this move by the GOP would be for states and local municipalities across the country.
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