Progressives reflexively denounce tax cuts and spending cuts as “giveaways to the wealthy” or “stealing from the poor.” So, ...

July 4 marked more than just Independence Day this year — it marked the signing of the One Big Beautiful Bill, the most significant tax reform since the Tax Cuts and Jobs Act.

President Donald Trump's recent spending bill introduces a significant change to the State and Local Tax (SALT) deduction, raising the cap from $10,000 to $40,000. This adjustment promises ...

The legislation raises the cap on the State and Local Tax (SALT) deduction from $10,000 to $40,000, quadrupling the previous limit and unlocking thousands in potential annual tax savings for ...

They argue that SALT deductions primarily benefit high-income earners in blue states and subsidize spending by state and local governments led by Democrats. So, the $40,000 cap surviving the ...

Trump's legislation also reduces itemized deductions for certain taxpayers in the top, 37%, income tax bracket, which lowers the benefit of the bigger SALT cap for the highest earners.