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Author

Mohamed Mohamoud

Author and the owner of idman news

October 16, 2021

Idman news

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‘Real risk’ for banks that Democrats use new reporting rule to fund SALT relief, analyst says


As some Democratic lawmakers from high-tax states keep pushing for their party’s $3.5 trillion spending plan to include what’s been called SALT relief, one problem has been the cost of such relief.

But Washington may end up with a solution — using a new reporting rule for banks to cover the cost of easing a $10,000 cap on deductions from federal income tax for state and local taxes that was put in place by Republicans’ big 2017 overhaul.

“We…



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