SALT, House and tax cuts
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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
Republican efforts to strike a deal on the contentious SALT deduction stalled, as GOP lawmakers debated expanding the state and local tax deduction only for households earning under $400K, according to a media report dated Thursday.
House Republicans on three key committees are working to advance their respective portions of President Donald Trump's reconciliation bill.
Rep. Mike Lawler (R-N.Y.), a key voice in the debate over the state and local tax (SALT) deduction cap, is slamming what he says is a lack of negotiations on the contentious issue. Rep. Mike
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The Trump tax cut debate is heating up. Here are the key issues and who stands to benefitThe full committee will debate and advance this legislation on Tuesday ... Another TCJA provision — the $10,000 limit on the deduction for state and local taxes, known as "SALT" — was added to the 2017 legislation to help fund other tax breaks.