Washington – Today Chairman of the House Ways and Means Subcommittee on Select Revenue Measures Rep. Mike Thompson (CA-05) hailed the passage of his legislation H.R. 5377, the Restoring Tax Fairness for State and Localities Act. This bill temporarily repeals the State and Local Tax (SALT) Deduction Cap, a change that was hastily made in the 2017 Republican tax law and unfairly penalized taxpayers in districts like California’s Fifth Congressional District. Thompson led debate on the House floor and released the following statement after today’s debate.
“Two years ago, Republicans made a massive change to our tax code, rammed through in just 51 days and with no hearings or opportunities to listen to state and local governments. As part of this dramatic and partisan policy making, Republican leaders capped the State and Local Tax Deduction, unfairly double taxing 6.5 million people in California alone and diminishing the incentive for middle-class taxpayers to claim tax benefits that encourage homeownership and charitable deductions.
“Today, House Democrats fixed this problem by temporarily restoring the SALT deduction and protecting the ability of state and local governments to raise revenues for services like first responders, police officers, and public education. This bill is about tax fairness and ensuring people in our district aren’t paying taxes twice on their income and that their essential public services can be financed. This bill is paid for and doesn’t add a dime to the deficit and it’s the right thing to do.”
Congressman Mike Thompson is proud to represent California’s 5th Congressional District, which includes all or part of Contra Costa, Lake, Napa, Solano and Sonoma Counties. He is a senior member of the House Committee on Ways and Means where he chairs the Subcommittee on Tax Policy. Rep. Thompson is Chairman of the House Gun Violence Prevention Task Force. He is also Co-Chair of the bipartisan, bicameral Congressional Wine Caucus and a member of the fiscally-conservative Blue Dog Coalition.
Go to Source