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What is the 'SALT Caucus' and why did it claim victory with the SALT deduction increase?
In the midst of negotiations for the 'One Big Beautiful Bill Act,' a group of Republicans known as the 'SALT caucus' emerged with a clear mission: to increase the state and local tax (SALT) deduction cap.
Here's who could benefit from the proposed $40,000 SALT deduction cap
The budget bill passed by the House includes a provision to quadruple the state and local tax deduction, a boon for some homeowners.
Journal Star on MSN9d
SALT deduction cap increased to $40,000 in new deal reached by Republicans. What to know
Republican lawmakers reached a deal today to raise the cap for the state and local tax deduction, known as the SALT deduction. Find out more.
Next test for higher SALT cap: Republican resistance in the Senate
Senate Majority Leader John Thune has argued that the ability to write off state and local taxes only benefits homeowners in high-tax states.
Who benefits most from the state and local tax deduction and why raising the cap is contentious
Increasing the $10,000 cap on the state and local tax deduction could benefit millions of tax filers. But a proposal to do just that has become a point of contention and a possible roadblock to House Republicans’ passing “one big,
Republicans weigh a $40K cap on SALT deduction, which would help NJ homeowners
The current cap is $10,000 for the state and local property tax deduction. A previous proposal would raise it to $30,000
Who would benefit from the proposed $40,000 SALT cap? How this deduction works
The House just made a move that could shake up tax season for a lot of Americans-especially those in high-tax states. Lawmakers voted to raise the cap on the SALT deduction (short
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