Bill Ackman says that raising the state and local tax deduction — known as SALT — to $80,000 “makes no sense,” joining the debate over a contentious issue in President Joe Biden’s economic agenda.
“Why should low tax states subsidize high tax states? How can it makes sense to increase the deduction to $80k in the BBB at a cost of $275B?” the Pershing Square Capital Management founder said in a tweet, referencing the Build Back Better Act.