Rep. Clyburn: Impact of Lifting SALT Cap Needs Scrutiny

The transcript discusses President Biden's challenges with the state and local tax (SALT) deduction limitation. It highlights political hurdles, economic impacts, and socioeconomic considerations of the tax policy. The discussion emphasizes the need to balance tax structures to protect ordinary working people while considering the effects on affluent individuals.

What challenges does President Biden mention regarding the state and local tax deduction limitation?

How does President Biden feel about the need for votes from Democratic congressmen concerning the tax plan?

What considerations does President Biden mention regarding the differences in impact between high-value and low-value homes?

What is the significance of the salt deduction limitation according to the discussion?

In what way does President Biden suggest the tax structure impacts ordinary working people?