Schumer: Republicans should go back to the drawing board on property tax deductions

Schumer: Republicans should go back to the drawing board on property tax deductions
© Camille Fine

Senate Minority Leader Charles SchumerCharles (Chuck) Ellis SchumerCan Mueller be more honest than his colleagues? Throwing some cold water on all of the Korean summit optimism House Republicans push Mulvaney, Trump to rescind Gateway funds MORE (D-N.Y.) on Sunday advised Republicans to reconsider their plan to eliminate state and local property tax (SALT) deductions as part of the GOP's final tax-reform bill.

"Republicans should go back to the drawing board and fully restore the SALT deduction," Schumer said in a statement.

The New York lawmaker slammed the Republican plan, saying it would provide tax cuts for wealthy individuals and corporations while cutting tax breaks that provide relief to the middle class.

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"The House's so-called 'compromise' would be saying to the middle class 'we'll only chop off four of your fingers instead of all five.' Both the House and the Senate bills would raise taxes on millions of middle-class families, particularly in the suburbs, while providing a huge giveaway to corporations and the wealthy," he continued.

His comments were in response to House Ways and Means Committee Chairman Kevin BradyKevin Patrick BradyFormer Bush adviser joining Ways and Means Committee in key staff role Some doubt McCarthy or Scalise will ever lead House GOP House passes series of bills to improve IRS MORE (R-Texas), who said earlier in the day that he will not support the "total" elimination of the deductions.

Brady pledged on “Fox News Sunday” that his conference will not agree to a version of the bill that would completely eliminate such deductions, after Schumer warned it would be their "political doom" if they did. 

The Senate version of tax reform would eliminate all property tax deductions, while the House measure would allow $10,000 in deductions.

Last week, Brady's committee passed the House tax-reform bill after a contentious markup process. Democrats voiced their opposition to the proposal, blasting it as a plan that will ultimately hurt the middle class.