Battle over SALT deduction heats up amid debate over GOP’s $4 trillion tax bill debate

Q: How long will it take to read this news story?

The story "Battle over SALT deduction heats up amid debate over GOP’s $4 trillion tax bill debate" has 614 words across 4 sentences, which will take approximately 3 - 6 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Battle over SALT deduction heats up amid debate over GOP’s $4 trillion tax bill debate" was covered 13 hours ago by Fortune, a news publisher based in United States.

Q: How trustworthy is 'Fortune' news outlet?

Fortune is a fully independent (privately-owned) news outlet established in 1929 that covers mostly economy and business news. The outlet is headquartered in United States and publishes an average of 63 news stories per day. It's most recent story was published 10 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #28733474</li><li>URL: https://kizaemonruihayato.beamstart.com/news/battle-over-salt-deduction-heats-17473327062562</li></ul>

Fortune Logo Fortune 13h ago

Battle over SALT deduction heats up amid debate over GOP’s $4 trillion tax bill debate - Fortune

Quick Summary:

Fully repealing the SALT cap would disproportionately help the richest of the rich, with the 1% getting 43% of the benefit.

And given Republicans have a slim majority of 220-213 in the House, the GOP can only afford to lose a handful of votes and still get their bill passed, assuming all Democrats vote against it.

While triple the current deduction, it's not enough for some Republican representatives, including Mike Lawler of New York and Jeff Van Drew of New Jersey.