About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

1 Nicole Kaeding, Testimony before the House Ways and Means Select Revenue Measures Subcommittee 1 (2019)

handle is hein.taxfoundation/testwmcom0001 and id is 1 raw text is: The Tax Foundation is the nation's leading independent tax policy research organization. Since 1937, our research, analysis, and experts have informed smarter tax policy at the federal, state, local, and global levels. We are a 501(c)(3) nonprofit organization. ©2019 Tax Foundation Distributed under Creative Commons CC BY NC 4.0 Editor, Rachel Shuster Designer, Dan Carvajal Tax Foundation 1325 G Street, NW, Suite 950 Washington, DC 20005 202.464.6200 taxfoundation.org Testimony before the House Ways and Means Select Revenue Measures Subcommittee June 25, 2019 Nicole Kaeding Vice President of Federal and Special Projects The Impacts of Limiting the State and Local Taxes Paid Deduction Chairman Thompson, Ranking Member Smith, and members of the Committee, thank you for the opportunity to speak to you today regarding the recent changes to the state and local taxes paid deduction and its impact on communities. The Tax Foundation is the nation's oldest organization dedicated to promoting economically sound tax policy at the federal, state, local, and global levels of government. We are a nonpartisan 501(c)(3) organization. For more than 80 years, the Tax Foundation's research has been guided by the principles of sound tax policy. Taxes should be neutral to economic decision-making, and they should be simple, transparent, and stable. Today, I have been asked to discuss the recent changes made to the state and local taxes (SALT) paid deduction within Public Law 115-97, known informally as the Tax Cuts and Jobs Act (TCJA). The SALT Deduction Prior to Reform Since the creation of the federal income tax in 1913, the federal government has allowed individuals to deduct taxes paid to state and local governments.' Prior to the TCJA, taxpayers could deduct their income or sales tax liabilities, plus their property taxes paid. For most taxpayers, they deducted their income and property taxes. Residents of no-income-tax states would instead deduct their sales taxes paid. 1 Jared Walczak, The State and Local Tax Deduction: A Primer, Tax Foundation Fiscal Fact No. 545, Mar. 15, 2017, https:// taxfoundation.org/state- and-local-tax-deduction-primer/.

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most