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Local officials celebrate increased SALT tax deduction in Trump’s ‘One Big Beautiful Bill’
President Donald Trump’s “One Big Beautiful Bill Act,” which narrowly passed through the House of Representatives early Thursday morning in a 215 - 214 vote, includes an increase to the SALT — State and Local Tax — deduction, quadrupling the cap from $10,000 to $40,000 and phasing it out for incomes over $500,000.
Baked into House Republicans’ sweeping tax package is an increase to the federal deduction for state and local taxes, a ...
The passthrough entity tax/state and local tax deduction remains a priority for the AICPA. The budget bill now being ...
Senate Majority Leader John Thune believes the deal that led the US House to increase the maximum deduction for state and ...
12don MSN
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 ...
House GOP leadership has agreed to a series of last-minute changes to its sweeping tax and spending package designed to win ...
Early Thursday morning, the House of Representatives passed the One Big Beautiful Bill Act by one vote. The bill had been ...
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, ...
On May 22, the House of Representatives passed proposed tax legislation titled, “The One, Big, Beautiful Bill” (TOBBB), which will now be debated ...
House Republican leadership Wednesday night unveiled last-minute tweaks to President Trump’s tax cut and spending priorities ...
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