Tax Policy and State/Local Tax Deductions
Former Vice President Mike Pence discusses the impact of raising tax rates on the wealthy, particularly affecting small business America. There is a dispute over state and local tax deductions in President Donald Trump's bill, with some Republican lawmakers pushing for a higher cap on SALT deductions.
Key Points
- Former Vice President Mike Pence's perspective on tax rates
- Dispute over SALT deductions in President Trump's bill
- Impact on middle-class families and high-cost-of-living areas
Pros
- Discussion on tax policy and its impact on small business America
- Advocacy for raising SALT deduction cap to provide relief for middle-class families
Cons
- Disagreement among Republican lawmakers on the appropriate SALT deduction cap
- Concerns about unfair tax burden on well-managed states subsidizing poorly managed states