ALEC on Liberty Watch Radio: Tax Cuts and Jobs Act Must Be Made Permanent
State Sen. Vince Leach of Arizona, chairman of the ALEC public Tax and Fiscal Policy Committee, joined Tucson radio host Charles Heller on Freedom Watch Radio this week to talk about the importance of making permanent the Tax Cuts and Jobs Act of 2017 (TCJA)- the Trump Tax Cuts.
Host Charles Heller: Right now, state lawmakers are urging Congress to permanently extend the 2017 federal tax cuts as part of a new model policy from the American Legislative Exchange Council or ALEC. President Donald Trump signed these tax cuts into law in 2017. What’s Arizona’s stake in that, Sen. Leach?
Sen. Vince Leach: It’s huge overall. This Tax Cuts and Jobs Act that President Trump signed into law returned to taxpayers $1.5 trillion in taxes. It was basically about $1,500 per person for the middle income. And one of the things that gets lost in the discussions was the State and local tax deduction, sometimes called SALT. Under TCJA that deduction was limited to $10,000. What had been happening was red states such as Illinois, New York, and New Jersey, you could write off your state property taxes on your federal taxes, which was huge. But it was not fair for low tax states such as Arizona to basically subsidize the federal taxes of high tax states.
To listen to the full interview, click below.