While the debate still rages over the effect that salt has on the health of Americans, another form of salt, the state and local tax deduction (SALT), is harmful to our federal tax code and, more importantly, bad for hardworking American taxpayers.
As we all know, our current federal tax system is a mess. It is convoluted, inequitable, inefficient and in need of a complete and total overhaul. One big ticket item that stands in the way of achieving fundamental tax reform for the first time in 31 years is the SALT tax preference — worth an estimated $1.3 trillion over the next decade.
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