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

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 ...

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.

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.