A new provision in the House tax plan would significantly increase the State and Local Tax (SALT) deduction cap from the ...

The SALT deduction allows taxpayers who itemize their federal returns to deduct certain taxes paid to state and local ...

However, the House proposal for changes to the SALT deduction could still face pushback in the Senate. Before TCJA, the SALT deduction was unlimited, but the so-called alternative minimum tax ...

Kevin Cramer (R-N.D.), who was at the gathering, said the proposal would make the SALT deduction cap $40,000 for five years, then $10,000 for the following five years.

Under the proposal, the SALT deduction cap would rise from $10,000 to $40,000 beginning in 2025. The cap would increase to $40,400 in 2026 and would continue to rise by 1% per year through 2029.

Moderate House Republicans from high-tax blue states and the Trump administration are zeroing in on an agreement for the state and local tax (SALT) deduction cap, which has been one of the key ...

The House bill included a $40,000 deduction cap — quadruple the $10,000 in current law — for individuals making $500,000 or less. Senate Republicans, however, enraged House SALT Caucus members ...

Kevin Cramer (R-N.D.), who was at the gathering, said the proposal would make the SALT deduction cap $40,000 for five years, then $10,000 for the following five years.

Moderate House Republicans from high-tax blue states and the Trump administration are zeroing in on an agreement for the state and local tax (SALT) deduction cap, which has been one of the key ...

Moderate House Republicans from high-tax blue states and the Trump administration are zeroing in on an agreement for the state and local tax (SALT) deduction cap, which has been one of the key ...