[Congressional Record Volume 165, Number 197 (Tuesday, December 10, 2019)]
[House]
[Page H9956]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                            12 DAYS OF SALT

  (Ms. SHERRILL asked and was given permission to address the House for 
1 minute and to revise and extend her remarks.)
  Ms. SHERRILL. Mr. Speaker, on the fifth day of SALT, my constituents 
have said to me that the SALT cap has hit the values of their homes and 
forced them to even sometimes sell their property.
  A constituent recently shared that, when he bought his home, his 
father-in-law patted him on the back and told him he had done a great 
job, but last year he had to sell that home where he had raised his 
three children because he could no longer afford it.
  Not only did my constituent have to move, but he had to sell his home 
for less than it was worth. He drew a direct link to the 2017 tax 
bill's SALT deduction cap.
  This constituent is not alone. A Moody's economist found that the 
SALT cap has taken a trillion-dollar hit to home values. And nowhere is 
that felt more than in my district.
  Mr. Speaker, Essex County is the most impacted county in the entire 
country, with an average 11.3 percent drop in home values. But counties 
in Texas, New York, Illinois, and Connecticut all rank in the top 30.
  Homeownership is the pillar of the American Dream. The Federal 
Government should not be putting up barriers to owning a home. We need 
to get rid of this SALT cap and stop punishing homeowners.

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