The 'One Big Beautiful Bill Act' aims to increase the SALT deduction cap from $10,000 to $40,000, promising relief for ...

Republican lawmakers in the House appeared to have reached a new agreement late Tuesday on the state and local tax deduction, ...

The SALT deduction, as it is known ... Their average individual income tax cut was only about $6,200, instead of $8,700. The cap had an even greater impact on taxpayers in the top 1%, whose average ...

Prior to the Tax Cuts and Jobs Act (“TCJA”), there was no direct limitation on an individual taxpayer’s deduction of his or ...

House Republicans passed President Donald Trump’s “one big, beautiful bill” on May 22. This meaty budget reconciliation bill ...

Baked into House Republicans’ sweeping tax package is an increase to the federal deduction for state and local taxes, a ...

Raising the current $10,000 cap on the State and Local Tax (SALT) deduction would primarily benefit high earners ...

The future of President Donald Trump's "Big Beautiful" federal spending bill could come down to SALT tax deductions.

While a federal SALT cap is hotly debated, capping deductibility at $10,000 was an unambiguously good idea at the state level ...

SALT allows taxpayers to deduct state and local taxes, including property tax, from their federal tax bill if they itemize ...

But the TCJA imposed a $10,000 cap — which, when coupled with the expanded standard deduction under that tax law, meant the number of people who claimed the SALT deduction fell dramatically ...

The SALT deduction, as it is known ... instead of $8,700. The cap had an even greater impact on taxpayers in the top 1%, whose average tax cut was $40,100, instead of $71,000.