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Schumer pledges to end cap on SALT deductions after 2025

  • Senator Chuck Schumer pledges to end the cap on State and Local Tax deductions after 2025, asserting that he won’t let Republicans extend it.
  • Schumer's proposal could reduce federal revenues by nearly $200 billion over 10 years if enacted.
  • Some liberal members of Congress argue that changing the deduction provision mainly benefits wealthy individuals.
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  • 67% of the sources lean Right
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