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 ...

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, ...

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

Early Thursday morning, the House of Representatives passed the One Big Beautiful Bill Act by one vote. The bill had been ...

Few states have more riding on the future of the SALT deduction than New York. With some of the highest property taxes in the ...

Taxpayers in states like New York could save more under the new $40,000 SALT deduction cap. Here's how it would work.

Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy   The Big Story  How ...

Republicans in the House of Representatives have reached a deal to raise the cap on the federal deduction for state and local ...

A new proposal could raise the SALT deduction cap from $10,000 to $30,000. Here’s how it may affect homeowners.

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 $ ...