How SALT Deduction Limits Reshape High-Tax States

Episode 64 of The Tax Policy Podcast dives into the state and local tax (SALT) deduction cap introduced by the Tax Cuts and Jobs Act, which limits itemized deductions for state and local taxes to $10,000. Lucas and Luna explore how this cap has affected high-tax states like New York, California, and New Jersey, with specific data on taxpayer migration and revenue impacts. They discuss the political battle over raising or repealing the cap, the workaround strategies states have attempted (like charitable contribution programs), and the implications for federal deficits. The episode also touches on the SALT deduction's history and why it remains a polarizing issue in 2026. A donation segment around the 75% mark invites listener support to keep the show ad-free. #SALT #TaxCutsAndJobsAct #StateAndLocalTax #HighTaxStates #PropertyTax #IncomeTaxDeduction #FiscalPolicy #TaxReform #NewYorkTaxes #CaliforniaTaxes #NewJerseyTaxes #TaxMigration #CharitableContributionWorkaround #FederalDeficit #Economics #TaxPolicy #FexingoBusiness #BusinessPodcast Keep every episode free: buymeacoffee.com/fexingo