The GOP’s SALT Deal Folly

Republicans make it easier for Democrats to raise state taxes

WSJ editorial. Excerpts:

"The Ways and Means bill raised the current $10,000 cap to $30,000 for couples with a phase-out at $400,000."

"The higher cap amounts to an average $11,100 tax cut for the affluent in such high-tax states, and it will raise the cost of the tax bill by hundreds of billions of dollars over 10 years without any compensating revenue feedback from faster economic growth." 

"Few voters in other states will benefit because the standard deduction (which the House bill increases to $32,600 for couples) is bigger than their itemized deductions."