New York Democrat Suozzi Takes on the SALT Cap

Rep. Tom Suozzi (D-N.Y.) is among lawmakers from high-tax states who want to repeal the $10,000 cap on deductions for state and local taxes paid. Individuals in Democratic states like New York and California have seen their tax bills go up as a result of the cap, which was part of the 2017 tax law.

Suozzi is leading the fight against the cap, trying to pressure the Biden administration and leaders in Congress to include the repeal in an upcoming legislative package.

In this week’s episode of Talking Tax, reporter Kaustuv Basu talks to Suozzi about the battle to get rid of the cap and what he sees happening in the next few months.