A proposed $40,000 cap on the SALT deduction reignites debate over who benefits most, especially in high-tax states.

If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phase out ...

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

The budget bill passed by the House includes a provision to quadruple the state and local tax deduction, a boon for some ...

On May 22, the House of Representatives passed proposed tax legislation titled, “The One, Big, Beautiful Bill” (TOBBB), which will now be debated ...

Republicans’ tax-and-spending cut package faces a number of hurdles in its path to President Trump’s desk, but the state and local tax (SALT) deduction cap could be the tallest to surmount.

The State and Local Tax (SALT) deduction is a rule that helps people lower the amount of federal taxes they owe. It lets you deduct the state and local taxes you’ve already paid, like income tax, ...

The House passed its version of Trump’s "One Big, Beautiful Bill." Here’s what to look for as Senate Republicans take up the mega legislation.

President Trump’s domestic agenda bill is spurring a debate over whether blue states are subsidizing red states. After a successful pressure campaign from blue-state Republicans, the House version ...

Senate Majority Leader John Thune has argued that the ability to write off state and local taxes only benefits homeowners in ...

If passed by the Senate, the new expanded SALT cap would benefit millions of big earners in high-tax states, including New ...

The tax bill passed by the house has a major change for Americans ... going to take that standard deduction over the salt deduction. If this $40,000 cap becomes law, they could deduct all $ ...