As Congress deliberates these proposals, the potential impact on taxpayers, businesses, and the broader economy remains a ...

Wednesday closed down -1.61%, the Dow Jones Industrials Index ($DOWI) (DIA) closed down -1.91%, and the Nasdaq 100 Index ...

If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phase out ...

The U.S. House of Representatives has passed a new tax and spending bill that significantly alters the state and local tax ...

Speaker Mike Johnson (R-La.) and moderate Republicans have zeroed in on an agreement for the state and local tax (SALT) ...

House Republicans passed a bill to raise the ‘SALT’ deduction cap to $40,000. Here’s who would benefit from the change.

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 ...

One of the more contentious issues has been how to address the $10,000 SALT cap. Lawmakers from high tax states (including New York, New Jersey, and California) believed they had the upper hand in ...

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 ...

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.

This has seemingly been forgotten in the ongoing debate about state and local taxes (SALT), and the deduction of those payments against federal taxes paid. It’s a reminder that when the Tax Cuts ...

Rep. Nick LaLota (R-NY) said that members of a Republican voting bloc united in increasing the cap on state and local tax deductions don’t want to change the corporate SALT deduction to pay for ...