Larson Fights to Overturn Trump Rule Which Would Stop Connecticut’s SALT Law
Washington, D.C. – This week, Rep. John B. Larson (CT-01) cosponsored Congressional Review Act SALT Resolution, which would stop a Trump Administration Treasury Department Regulation from going into effect on August 12th. The regulation would restrict states from establishing a trust to accept payments from taxpayers to satisfy state and local tax liabilities.
"83 percent of 2017 Republican Tax Law went to the nation's wealthiest 1 percent, at the same time it caused middle-class families in Connecticut's taxes to go up because it capped the State and Local Tax Deduction. On average, Connecticut residents were deducting $19,500 a year in state and local taxes, now they're paying more for a tax cut for the rich," said Larson. "Connecticut and other states have passed a law to provide tax payers with relief, but now the Treasury Department is trying to block it. I am proud to be an original cosponsor to overturn the Treasury Department's ruling as we fight for fair taxes.
"I applaud Governor Lamont and Attorney General Tong for joining the lawsuit against Secretary Mnuchin and the IRS to overturn this harmful regulation."
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