LIBOR Joins SALT Letter as Trump Walks Back Promise?

"As a coalition of the region’s leading business and economic development organizations, we write in support of your efforts in Congress to fully restore the state and local tax (SALT) deduction to help make Long Island more affordable for its residents and economically viable for businesses," said the letter circulated by the Association for a Better Long Island (ABLI).

Co-signed by ten regional advocacy associations — including the Long Island Association (LIA), LI Builders Institute (LIBI), LI Contractors Association (LICA), and LI Business Council  — the letter was sent to US Reps. LaLota (R), Garbarino (R), Suozzi (D), and Gillen (D), reinforcing "our deep concerns of a SALT deduction tied to income" and encourages our federal representatives to hold strong against pressure to compromise away "an opportunity to fully restore the SALT deduction."

Along with New York's Mike Lawler (R-Rockland, Westchester) and California's Young Kim (R-Orange County), LI's members of Congress have so far held strong. President Trump and House conservatives have pushed them to compromise past promises to restore the old SALT deduction cap. All of this is in order to help pass the Republicans' "Big, Beautiful Bill" tax and spend bill.