News

Here are the changes to the SALT tax deduction in the 'big, beautiful bill'
Baked into House Republicans’ sweeping tax package is an increase to the federal deduction for state and local taxes, a ...
Here's who could benefit from the proposed $40,000 SALT deduction cap
The budget bill passed by the House includes a provision to quadruple the state and local tax deduction, a boon for some ...
House Republican tax bill passes 'SALT' deduction cap of $40,000. Here's who would benefit.
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 ...
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Increase in SALT cap eases taxpayers' path to other deductions
The 'One Big Beautiful Bill Act' proposes a significant change to the SALT deduction, increasing the cap from $10,000 to ...
What is the SALT deduction, and what's happening with this tax break?
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, ...
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SALT deduction cap increased to $40,000 in new deal reached by Republicans. What to know
Republican lawmakers reached a deal today to raise the cap for the state and local tax deduction, known as the SALT deduction ...
Next test for higher SALT cap: Republican resistance in the Senate
Senate Majority Leader John Thune has argued that the ability to write off state and local taxes only benefits homeowners in ...
Who benefits most from the state and local tax deduction and why raising the cap is contentious
Increasing the $10,000 cap on the state and local tax deduction could benefit millions of tax filers. But a proposal to do just that has become a point of contention and a possible roadblock to House ...
Republicans weigh a $40K cap on SALT deduction, which would help NJ homeowners
The current cap is $10,000 for the state and local property tax deduction. A previous proposal would raise it to $30,000 ...
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The House Passes a Tax Bill Containing a SALT Cap Compromise That Is Slightly Better Than Its Prior Proposal
As reported on May 16, 2025, the SALT cap proposal contained in the legislation that was pending in the U.S. House of ...
These High Tax States Could Benefit the Most From Higher SALT Deduction
Few states have more riding on the future of the SALT deduction than New York. With some of the highest property taxes in the ...
Who would benefit from the proposed $40,000 SALT cap? How this deduction works
The House just made a move that could shake up tax season for a lot of Americans-especially those in high-tax states. Lawmakers voted to raise the cap on the SALT deduction (short ...