I'm sure glad this place is stepping up and understanding the expiring provisions and the kick in the head that will be to the working class because we're making the numbers work right. All right, another 1. Expiring 2025 provisions, state and local tax deductions. Now those of you from high tax states, you're giddy. The deduction right now is capped at $10,000 and it goes back, goes back to as high as you want. The great irony here is when you have the Bernie Sanders of the world who basically say, eh, this is a tax cut tax deduction for the ultra wealthy because almost the vast majority years ago. (17:12–17:30)
CLAIM
Asserts that the cap on state and local tax deductions will be removed, allowing deductions to exceed $10,000.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
