Chuck Schumer's tax cut for the wealthy

Through a rarely used stipulation of the Congressional Review Act, Senate Minority Leader Chuck Schumer will force a vote for tax cuts on the wealthy.

The cap on the SALT deduction, one of the signature successes of President Trump's fiscal agenda, forced states with punitive tax rates to live with the consequences of their mismanagement. The lower the cap, the more of a fair share the Blue State wealthy must pay. Rather than allow the wealthy in Blue States to pass off their taxes onto the rest of the country using the SALT deduction, Trump capped the deduction at a very reasonable $10,000.

Naturally, Schumer wants to undo it, helping blue state donors and reducing federal tax revenue by more than $600 billion over the next decade.

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