In a rare change of pace, taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. legislation passed out of the Ways and Means CommitteeThe Committee on Ways and Means, more commonly referred to as the House Ways and Means Committee, is one of 29 U.S. House of Representative committees and is the chief tax-writing committee in the U.S. The House Ways and Means Committee has jurisdiction over all bills relating to taxes and other revenue generation, as well as spending programs like Social Security, Medicare, and unemployment insurance, among others. last week with overwhelming, bipartisan support. In a more common turn of events, it may not get much further thanks to a small group of passionate, but misled lawmakers known as the “SALT Caucus.”
This coterie of 33 members hail from states with high income tax rates–California, Connecticut, Maryland, and Minnesota–where the Caucus’s stated mission is to “make life more affordable” for middle-class families.
That’s a laudable aim, but their method of achieving it is backward.
This is a preview of our full op-ed originally published by Fortune.
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