Friday, 19 October 2018 09:52

SALT Change is Wounding Republican Hopes

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Republicans are feeling a lot of heat on the campaign trail because of one of their most contentious tax policy changes. Anecdotal evidence suggests that many voters says they will vote democrat in high-tax states because of the Republican-led change to greatly reduce SALT deductions, which has sent tax bills soaring for many affluent residents of high-tax states. Democrats have promised to abolish the SALT deduction limit.

FINSUM: The interesting thing here is that the most pain from the tax change is being in felt in some of the districts that went red in 2016. For example, there are many affluent suburbs in New Jersey that are now feeling the pinch from the changes, which could, in aggregate, change the outlook for midterms.

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