Bloomberg Tax
June 4, 2020, 6:24 PM

Obama Economist Says Restoring SALT Deduction a ‘Waste of Money’

Laura Davison
Laura Davison
Bloomberg News

Restoring a write-off for state and local taxes, a proposal in the stimulus bill the House passed last month would be a “complete waste of money,” according to a former economic advisor to President Barack Obama.

  • Jason Furman, now a professor at Harvard, says that it’s not a good fiscal policy solution to the current economic crisis
    • He speaks at an event hosted by the Urban-Brookings Tax Policy Center
  • House Democrats passed a bill last month that would temporarily suspend the $10,000 cap on state and local tax, or SALT, deductions. President Trump imposed the limitation, that mostly affects residents ...