On a recent episode of Bloomberg’s “Balance of Power,” Representative Microler (R-NY) criticized the current salt provisions in the Republican tax proposal, calling them “terribly inadequate.” He expressed opposition to the bill, emphasizing that if it failed to pass, the salt deduction would revert to its unrestricted form since it funded tax cuts and other parts of the Employment Act. Hence, he argued, there was no need to allocate funds for it.
Microler stated, “From the start, I’ve made it clear that I can’t back a tax bill that fails to adequately address the unfair $10,000 cap introduced by the Tax Cuts and Jobs Act of 2017. When that act expires at the end of this year, the salt deduction will revert to being unlimited. Other aspects, like ensuring an alternative minimum tax, also need attention.”
He further remarked, “Salt serves as a funding source for tax cuts and other elements of the Employment Act. And to think that this is just a ‘payment’—that’s a joke. It really is a joke.”
