Let's Talk About SALT - the State And Local Tax Deduction - What it is and how it affects your money, Host, Frank Jameson, IV

It's a deduction, typically for wealthy individuals. You would have to be able to itemize your taxes and it was created back in the late 1800s to off-set the income tax. President Trump capped it at $10,000, Senator Romney wants to eliminate it to pay for family and child poverty programs, but Democrats want to keep it.