Donald Trump just said he is going to cap credit card interest rates at 10%
Donald Trump vowed to remove the cap he had set on the state and local tax (SALT) deduction, which is valuable to many New York homeowners.
“I will reduce taxes for families, small businesses, and workers, and I will restore the SALT deduction, saving residents of New York, Pennsylvania, New Jersey, and other high-cost states thousands of dollars,” Trump said at a rally on Wednesday, referencing the tax break's acronym.
Trump made this pitch in an unusual campaign stop — Long Island, New York. The SALT deduction is particularly important in New York’s suburbs, where high taxes and property values result in residents often facing large state and local tax bills.
Trump's Tax Cuts and Jobs Act limited the SALT deduction to $10,000, regardless of marital status. This restriction disproportionately affects high-tax, high-property-value areas, many of which are Democratic strongholds, including New York and New Jersey.
With fewer than 50 days until Election Day, Trump held Wednesday’s rally outside the swing states that are expected to decide the November election. Although New York is his home state — and he has expressed confidence in winning it — no Republican presidential candidate has carried New York since 1984.
A Siena College poll released Thursday shows Democratic Vice President Kamala Harris leading Trump in New York, with 55% to his 42% among likely voters. These voters also trust Harris more on economic issues, with 52% supporting her economic plans compared to Trump’s 45%.
New York City’s suburbs contain several swing congressional districts, which could be crucial for Republicans to maintain their slim majority in the House.
The Uniondale, New York, rally highlighted both Trump and Harris's attempts to appeal to suburban women and independent voters, aiming to expand their electoral coalitions beyond their core supporters. They are competing for a shrinking group of undecided voters.
Key to their pitch is the economy, as both candidates address concerns over high prices, housing costs, and job security. They are making competing promises of tax cuts and benefits to relieve financial pressures on American households.