I spoke to Stu Basu of Bloomberg Tax on the politics of the SALT cap and how it might impact GOP plans for a second round of tax cuts:
Republicans want to remind voters of their chief legislative accomplishment while extracting a political price for Democratic opposition to a tax revamp that widely benefited voters, said Liam Donovan, a former aide to the National Republican Senatorial Committee.
“A floor vote to make the individual and small-business cuts permanent might do that, but it could also revive the sensitive issue of SALT for vulnerable blue state incumbents while prompting deficit concerns from the right and the left,” Donovan, now a principal with Bracewell LLP, said. Brady said previously that making the individual tax cuts permanent would cost about $600 billion.
Read the entire piece here.