Schumer: Democrats will try to overturn tax deduction cap

Senate Democrats are attempting to repeal an IRS regulation that is designed to keep people from exceeding the $10,000 limit on state and local tax deductions.

Democrats will force a vote, scheduled for Wednesday, to overturn the regulation through the Congressional Review Act, Senate Minority Leader Chuck Schumer told The Associated Press on Tuesday. The vote takes aim at an IRS rule from June that prohibits states from creating charitable funds that taxpayers can contribute to in exchange for a state tax credit. The workaround gave residents in some states a way to get around the limit on so-called SALT deductions. The 2017 GOP tax overhaul limited the amount of state and local taxes that taxpayers can write off.

The Democrats' measure would use what has been a rarely successful legislative tool to overturn a regulation. The Congressional Review Act gave Congress the ability to overturn recently issued federal rules with a simple majority of both chambers of Congress and approval of the president.

"The devastation in New York is very, very bad," Schumer said, adding that it is also affecting"many Republican states."

☠️wake uppeopl Democrats are coming for you home

You mean the Communist Democratic party they will do anything to work against the American people they are anti-American

'The rich should pay their fair share'

Good because it’s wrong for people with homes on the Coasts

Thank you Schumer for telling us 'how you really feel'. The people living in the states he mentioned don't make that kind of money so wouldn't have to pay more in taxes. Schumer is part of the 1% who are and greed is their master.

Good luck!

Pay the state taxes you and your neighbors voted for

That's not going to happen. Heres a thought, Lower your state and local taxes.

Fail

Not to worry it will just sit on Moscow Mitch’s desk like the rest of them ImpeachTrumpNow ImpeachThemAll

Lawmakers are conducting an inquiry, which could lead to impeachment. An impeachment would mean the U.S. House thinks the president is no longer fit to serve and should be removed from office. Here’s a guide to how impeachment works.

So that’s to benefit which states mainly? Oh those high taxed Democrat ran states. The cap sucks but just because you vote and chose to live in high tax states doesn’t mean the fed should give you relief.

uh-oh, a bunch of lower-middle class hillbillies who bring in 27k a year are going to be pissed about this

People in Wisconsin would appreciate that.

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