Raising the cap on state and local tax deductions is a bad idea. - Dreamstime/TNS/TNS
This newspaper has long argued that Democrats should leave in place a cap on deductions that wealthy taxpayers can claim based on their state taxes — the one good part of the Republicans’ 2017 tax-cut package. Now Democrats are nonetheless on the verge of dramatically raising that cap, a move that is being rightly criticized as a gift to the rich. It’s not too late to get it right and leave the cap alone. The 2017 tax cuts were a boondoggle that will cost America for years, all so the GOP could reward its wealthy benefactors. The claim that the cuts would pay for themselves through economic gr...
