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 ...

As reported on May 16, 2025, the SALT cap proposal contained in the legislation that was pending in the U.S. House of ...

The higher SALT cap would mean millions of mostly high-income taxpayers in high-tax states would save thousands of dollars ...

The Joint Committee on Taxation, Congress’s in-house tax scorekeeper, released the much-anticipated score for the tax portion of the reconciliation bill.

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, ...

Republicans’ tax-and-spending cut package faces a number of hurdles in its path to President Trump’s desk, but the state and ...

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

Lawmakers are close to a deal that would raise the SALT cap to $40,000—offering potential tax relief for homeowners in ...

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

President Donald Trump’s “One Big Beautiful Bill Act,” which narrowly passed through the House of Representatives early ...

The current cap is $10,000 for the state and local property tax deduction. A previous proposal would raise it to $30,000 ...

Although the deal is not done yet, House Speaker Mike Johnson and a group of GOP lawmakers mostly from the New York suburbs ...