Could a federal credit for state and local taxes be a more equitable or efficient alternative to the deduction?

Sep 9, 2024 ... In 2017, the average SALT deduction taken in New Jersey was $19,000, nearly double the current cap, and $24,000 in Bergen County. The deduction ... Aug 25, 2021 ... The SALT deductions are limited by a new cap of. $10,000, effective 2018. The unique impact of the new SALT deduction cap on home prices is. Oct 14, 2024 ... SALT stands for state and local taxes, and the SALT deduction is a tax deduction that allows taxpayers to deduct all or a portion of their state or local tax. Apr 3, 2025 ... The SALT deduction shifts some of the burden of state and local taxes from taxpayers to the federal government. By reducing the deduction's ... Nov 18, 2021 ... House Democrats are poised to lift a cap on the state and local tax deduction, a gift to wealthy homeowners in some blue states. Jan 24, 2025 ... SALT Deduction: How to Write Off State and Local Tax · The state and local tax (SALT) deduction is a federal tax break that allows filers who ... Aug 12, 2024 ... I am fighting in Washington to increase the cap on the state and local tax (SALT) deduction. This would provide much-needed financial relief for New Yorkers. Sep 6, 2024 ... Urge Congress to Allow SALT Cap Deduction to Expire. The $10,000 State and Local Tax (SALT) Deduction Cap is one of the provisions from the 2017 ... Jul 27, 2021 ... ... (NY-02) led a letter to Congressional leadership calling for the immediate repeal of the State and Local Tax (SALT) deduction cap. Nov 1, 2022 ... ... SALT deduction. New York, joined by Connecticut, Maryland, and New ... deductions (e.g., the $10,000 cap on SALT deductions). Generally ...