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By capping the corporate SALT deduction, lawmakers can fund reforms that boost investment, jobs, and wages — all while keeping fiscal discipline front and center. Read more from AV's Scott Hodge on how this reform would level the playing field: arnoldventures.org/resources/capp…

The Political Tariff Trap for Republicans nytimes.com/2025/05/07/opi…

Who in the White House didn't see this coming?

philanthropy.com/article/meet-t… The Chronicle of Philanthropy’s Ben Gose profiles Arnold Ventures’ Scott Hodge … 1/2

thegivingreview.com/a-conversation… … who spoke w/ The Giving Review’s Michael E. Hartmann last August …. 2/2

Credit unions are begging Congress to keep their tax exemption while continuing to buy community banks. They can't have it both ways. JCT should investigate how much tax revenue is being lost from these transactions. cutimes.com/2025/05/02/fro…

Thanks to the Chronicle of Philanthropy for profiling my work on taxing the business income of nonprofits. Meet the Man Who Wants to Tax Most of the Nonprofit World philanthropy.com/article/meet-t…

The irony here is that Democrats will vote against the Big, Beautiful Bill, but be the biggest beneficiaries of raising the SALT cap.

Fascinating piece by Jessica Riedl 🧀 🇺🇦.

Seems like spending hundreds of billions on SALT cap relief targeted at high-income taxpayers concentrated mostly in Dem-held districts (44 out of top 50 SALT districts) is a bad use of precious revenue in light of these developments.

I'm having flashbacks looking at a paper I wrote in 1990 titled "While Talking About a Deficit Crisis Congress Proposes Billions in New Spending." The deficit was a quaint $318 billion that year. Oh, the good old days.

Excellent piece by Glenn Hubbard on the benefits of a border-adjusted cash-flow tax. It solves many of the problems Republicans are agonizing over. The GOP Tax Bill Could Solve the Tariff Problem by Glenn Hubbard wsj.com/opinion/the-go… via Wall Street Journal Opinion

This study finds that SALT "provides a greater subsidy, per capita, for wealthy, economically segregated localities..." Subsidizing Economic Segregation Through the State and Local Tax Deduction SSRN papers.ssrn.com/sol3/papers.cf…

I also found this interesting: "[SALT] allows wealthy localities, but not poor localities, to provide services at a cost less than face value to their residents." Subsidizing Economic Segregation Through the State and Local Tax Deduction SSRN papers.ssrn.com/sol3/papers.cf…

Lastly, SALT's "subsidy for wealthy localities rewards and likely contributes to economic segregation because it provides an incentive for the wealthy to segregate into wealthy, subsidized localities over less segregated and less subsidized localities." Subsidizing Economic

New SALT study finds "that the primary beneficiaries of the local portion of the SALT deduction are localities with high home values, low poverty rates, and relatively homogeneous, affluent populations—raising critical questions about the deduction’s role in rewarding economic

Notice that many of the red lines are the most federally subsidized sectors through the employer-provided health exclusion, mortgage interest deduction and higher education tax credits and loans. The more we subsidize things the more expensive they get.

Another SALT study finds that the deduction causes disparities in "the costs of local public goods, which helps explain why wealthier communities expend more resources on public services than they would if residents had to bear the full costs of these investments.” Federal Tax

Shobe and Johnson argue that SALT should be limited to income taxes, because they are progressive, but denied for property taxes because they promote economic segregation. Food for thought. Geographic Inequality and the SALT Deduction SSRN papers.ssrn.com/sol3/papers.cf…

This table illustrates the highly regressive nature of the SALT deduction. If we were starting from scratch, would we design something that subsidizes rich communities at the expense of poor ones? Geographic Inequality and the SALT Deduction SSRN papers.ssrn.com/sol3/papers.cf…