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The SALT income tax deduction cap was increased to $40,000 in Trump’s bill. Should you take it?
The measure is often referred to as the SALT income tax deduction. (SALT stands for “state and local taxes.”) It allows taxpayers to deduct from their taxable federal income the amount they pay in state and local taxes, thus lowering their federal tax liability.
The agreement in July ended eight years of wrangling by New York political leaders, from both parties, who argued that the $10,000 cap on so-called SALT deductions, established in the 2017 Jobs and ...
Lawler and other Republicans hope voters care more about the money in their pocket than cuts to health care systems.
On July 4, 2025, President Donald Trump signed the reconciliation bill, known as the “Big Beautiful Bill” (“BBB”), which ...
Congress passed a giant tax bill that includes the Senate's SALT changes that allow rich Americans in high-tax states to save money, experts say.
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Income tax vs. sales tax: Which saves you more under SALT?
Changes under the OBBBA make choosing between income or sales tax deductions more important than ever for maximizing your ...
Increases the SALT cap to $40,000 in 2025, with 1% annual inflation indexing through 2029. The cap reverts to $10,000 in 2030.
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