Larson Highlights Unfair Impact of GOP Tax Law on Connecticut Families
Washington, D.C. –In today’s House Ways and Means Select Revenue Measures Subcommittee hearing, “Recent Limitations to the SALT Deduction & its Harm to Communities,” Rep. John B. Larson (CT-01) highlighted how the cap of the State and Local Tax (SALT) deduction in the 2017 GOP Tax law forced Connecticut families to subsidize the tax breaks for the nation’s wealthiest one percent.
“In my state of Connecticut, a small state, on average 750,000 people avail themselves to deductions, and the average State and Local Tax deduction is $19,000. It’s not much of a consolation for them to understand that their extra taxes went to pay for 83 percent of the tax cut going to the top 1 percent of the nation. This isn’t about Blue states and Red states, or Democrats and Republicans. This is about what’s fair for the country. This is exactly the type of hearing that the Republican majority failed to hold when the rammed through their tax law without any public hearings or regular order,” said Larson.
The Tax Cuts and Jobs Act capped the state and local tax deduction at $10,000. Larson was a forceful opponent of this law and voted against it. Larson is an original cosponsor of the Stop the Attack on Local Taxpayers (SALT) Act of 2019 introduced by Representative Bill Pascrell (D-NJ) that would fully reinstate the State and Local Tax Deduction and would restore the top individual tax rate to 39.6%.