Briefs

Gov. Hochul urges full repeal of the limits on SALT deduction

January 8, 2025 Brooklyn Eagle Staff

Gov. Kathy Hochul. Photo: Frank Franklin/AP

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ALBANY AND NATIONWIDE — GOV. KATHY HOCHUL had some strong words Wednesday, Jan. 8 regarding the urgency of repealing the cap on the SALT (State and Local Taxes) deduction that is set to expire later this year. The Tax Foundation’s website explains that the SALT deduction’s purpose was to offset some of the federal taxpayer liability by excluding income already taken in taxes for state and local government services. Before the Tax Cuts and Jobs Act was passed, no ceiling existed on the value of the SALT deduction.

Hochul said, “The New York Republican delegation owes middle class New Yorkers a full repeal of the SALT cap. This cap has cost New Yorkers as much as $12 billion every year since it took effect in 2018, robbing middle-class families of their hard-earned money. Republicans have drained billions directly from the pockets of their own constituents, and now it’s time for them to deliver.”

According to CBS, the new 119th Republican-led Congress wants to extend or make permanent key portions of the Tax Cuts and Jobs Act that President-elect Donald Trump had gotten passed in 2017, during his first term in office.

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