White House Threatens Veto of Bill Rolling Back SALT Cap

The White House threatened a veto of H.R. 5377, a bill that would roll back the cap on state and local tax deduction, or SALT.

• “This legislation would unfairly force all federal taxpayers to subsidize a tax break for the wealthy, as well as excessive government spending by fiscally irresponsible states,” the White House says in a statement
• The House is set to vote on it tomorrow
• Earlier, House Panel Approves SALT Cap Rollback Destined to Die in Senate

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Vivek Shankar in Washington at vshankar3@bloomberg.net

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