News

Senators must hold down the SALT cap
As the Senate considers next steps for the House-passed “big, beautiful” tax bill, the battle lines have been drawn for a ...
Soy Aire on MSN11d
Exploring the impact of the 'One Big Beautiful Bill Act' on SALT deductions
The 'One Big Beautiful Bill Act' aims to increase the SALT deduction cap from $10,000 to $40,000, promising relief for ...
Opinion
The Heritage Foundation1dOpinion
SALT Subsidies Are Crowding Out Positive Tax Reforms in the One Big Beautiful Bill Act
The House of Representatives passed its version of the fiscal year (FY) 2025 budget reconciliation bill on May 22 by the narrow margin of 215 to 214, with one Member voting present. The bill, titled ...
Californians could get bigger state, local tax deductions. Why that matters
Some congressional lawmakers are trying to lift Trump-era caps on state and local tax deductions as part of the new Republican tax bill.
Return Of Country Club Dues Deduction Is More Defensible Than SALT
No one is calling for a return of the country club dues tax deduction, but even conservatives say that’s more defensible than ...
Senate says SALT isn’t settled
Speaker Johnson is now staring down Senate tax writers who are doubling down on threats to scale back his carefully ...
NerdWallet on MSN7d
Tax Deductions Might Go Up. Would You Benefit?
House Republicans passed President Donald Trump’s “one big, beautiful bill” on May 22. This meaty budget reconciliation bill ...
Institute on Taxation and Economic Policy3dOpinion
Five Issues for States to Watch in the Federal Tax Debate
This post covers five particularly notable provisions for states: increasing deductions for state and local taxes (SALT) paid ...
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 ...