Bloomberg Retracts SALT Cap Wealth Exodus Story

Jan. 16, 2020, 2:04 AM

Bloomberg has retracted an incorrect article published today with the headline “Trump’s SALT Cap Fuels a Wealth Exodus From High-Tax States” because time frames in the Bank of America analysis on which the story was based were inaccurate. The underlying Internal Revenue Service data in the Bank of America report reflects income earned in 2017 and 2016 before the tax law took effect.

To contact the editor responsible for this story:
Shannon D. Harrington at sharrington6@bloomberg.net

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