From FreeBeacon.com…
Congressional Democrats are finalizing a half-trillion-dollar tax cut for the wealthy, a provision larger than any new welfare program in the budget reconciliation.
Reinstating the State and Local Tax (SALT) deduction will cost an estimated $500 billion, more than 2.5 times the size of the child tax credit and earned income tax credit combined. The provision allows taxpayers to deduct the amount they pay in state and local income, property tax, and sales tax from their reported federal income.
Under the 2017 GOP tax cut, the SALT deduction was capped at $10,000. The Democratic plan would make it unlimited for five years.
