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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Wait I thought backdoor Roths were safe? They are eliminated now?[/quote]

Gone if BBB as drafted passes, unless the Senate acts to remove the change.  They had the change to close them  in, then they removed it, but then they added closing the back doors back in as a PAY FOR when they added in the SALT giveaways.[/quote]

It’s not pay for for SALT.  SALT actually is a revenue increase under the bill because under current law the $10k cap goes away after 2025.  [/quote]

The fact that you can say this with a straight face..[/quote]

NP here: it's actually true. The $10K SALT cap imposed by the 2017 Tax Cut and Jobs Act (rammed thru Congress by Republicans via reconciliation) expires completely in 2025. If Congress takes no action on SALT before 2025, the $10K cap will essentially go away by itself and create large deficits (absent no spending cuts or other tax increases).

By raising the cap for everyone or removing it completely for anyone under $550K income threshold, you actually reduce the deficit through 2031 relatives to the status quo (full expiration for everyone in 2025).

[quote][i]
The Congressional Budget Office said on Thursday that over the course of a decade, the changes to the deduction would amount to a tax increase that would raise about $14.8 billion in revenue.[/i][/quote]

https://www.nytimes.com/2021/11/18/us/politics/salt-tax-deduction-democrats.html[/quote]

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