The Republican-led U.S. House of Representatives passed a bill on Thursday that would allow a deduction of up to $40,000 on federal returns for state and local taxes, known as SALT. A previous ...

It’s a non-starter with representatives in the House’s so-called “SALT Caucus,” who have campaigned for years to repeal completely the $10,000 limit on the deduction for federal income taxes.

This federal deduction for state and local taxes — the SALT deduction, for short — has a big influence on how the tax burden is divided. It tends to help taxpayers in wealthier, more urban ...

The House Ways and Means Committee is eyeing a plan to increase the state and local tax (SALT) deduction cap by $30,000 for single and joint filers who make $400,000 or less a year, even after key ...

The fate of President Donald Trump’s tax legislation may rest on whether the GOP can find common ground on tax breaks for high earners in predominantly Democratic states — and the issue also ...

House Republicans are planning to triple the state and local tax (SALT) deduction cap to $30,000 in their plan to pass President Trump’s “big, beautiful” agenda bill, despite New York ...

The bill retains the current tax rates while including NAR-supported provisions, including a qualified business income deduction increase and the SALT deduction. WASHINGTON — The U.S. House of ...

Currently, there's a $10,000 limit on the federal deduction on state and local taxes, known as SALT, which will expire Dec. 31, 2025, without action from Congress. House Republicans wants to raise ...

Mike Lawler (R-N.Y.), for example, introduced a bill in January that would increase the SALT deduction cap to $100,000 for single filers and $200,000 for married couples who file jointly. Rep.