News

Senators must hold down the SALT cap
As the Senate considers next steps for the House-passed “big, beautiful” tax bill, the battle lines have been drawn for a ...
JD Supra7d
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 ...
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 ...
Rep. Young Kim rejects SALT cap proposal of $30,000, calling it a ‘slap in the face’
The Republican lawmaker said a budget bill with a SALT deduction cap as low as $30,000 would not get her support.
NorthJersey.com24d
House SALT proposal would raise cap on deduction to $30K, but some Republicans balk
A proposal to increase the cap from $10,000 to ... Most of the tax relief from lifting the SALT cap, for instance, would go to households earning between $200,000 and $500,000, said a February ...
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, ...
Conservative rips blue state Republican's proposal to raise taxes on wealthy in SALT debate
Issues over tax relief for blue state Republicans are coming to a head as the GOP crafts President Trump's "big, beautiful ...
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 ...