Pat Toomey (US Sen. ret.)

@SenToomey ↗

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Last Checked March 10, 2022

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Fri Nov 12 15:56:23 +0000 2021

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Pat Toomey (US Sen. ret.) @SenToomey

The Tax Cuts & Jobs Act capped the SALT deduction at $10K. Now, Democrats want to give the wealthy a massive SALT deduction. Their current proposal allows the wealthy to deduct up to $80K in state & local taxes. https://t.co/rAMtd59mCQ https://t.co/IuXhYSgEmP — PolitiTweet.org

Posted Nov. 12, 2021

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Pat Toomey (US Sen. ret.) @SenToomey

The State & Local Tax (SALT) Deduction allows wealthy Americans living in high-tax states & municipalities to get a tax break by deducting their state & local taxes from their federal taxes. This tax break is paid by all other taxpayers. — PolitiTweet.org

Posted Nov. 12, 2021

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Pat Toomey (US Sen. ret.) @SenToomey

≈97.5% of the benefit from the proposed cap increase would go to Americans making > $100K. This means a wealthy individual who chooses to live in the Upper East Side of Manhattan will benefit greatly, but a working class family living in Dauphin County, PA will not. — PolitiTweet.org

Posted Nov. 12, 2021