The most divisive part of the GOP’s big bill, explained
House Republicans passed a major tax and spending bill early Thursday morning. The bill — which the Republican Party hopes to have signed by Memorial Day — is chock full of President Donald Trump’s legislative priorities, and has many provisions the GOP has long been agitating for. But it nevertheless was a struggle to get the bill to the House floor for a vote. One big reason was a tax provision known as SALT, the state and local tax deduction.
I asked Today, Explained’s Devan Schwartz — who just produced the below podcast about this bill — to explain what SALT is, why it’s important, and why it’s roiled the GOP. Here’s what he had to say:
What is SALT?
SALT is an acronym that stands for “state and local taxes” — it allows Americans to deduct some of what they pay, right now up to $10,000, in state and local taxes (like property taxes and sales taxes) from their federal taxes.
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