How does the salt deduction affect different regions of the country?

Jun 7, 2023 ... If your state and local property taxes exceed $10,000, things are simple: Keep a copy of your property tax bill and take a $10,000 SALT ... Nov 26, 2024 ... A higher cap or a full repeal of the SALT cap would mostly benefit high-income earners, making either change a regressive policy. Mar 7, 2023 ... The law is effective retroactive to January 1, 2022, meaning that companies may take advantage of this law for the 2022 tax year. Entities must ... Dec 10, 2022 ... Consistent with the SALT deduction limitation negatively affecting counties' expected future ability to raise more real estate tax revenues, we ... Sep 30, 2024 ... According to the Treasury Department, the SALT cap has prevented more than 11 million Americans from deducting over $300 billion in state and ... Feb 11, 2022 ... The SALT deduction cap became a political lightning rod in 2017 when a Republican-controlled Congress passed the Tax Cuts & Jobs Act. Jan 3, 2022 ... “The SALT deduction cap is nothing less than double taxation on New Yorkers,” Governor Hochul said. “Repealing the SALT cap would not only ... Sep 4, 2020 ... The SALT deduction is a warped way to do social policy; at worst it is a politically-motivated handout to the richest people in the richest places. Nov 4, 2024 ... The SALT Deduction Fight Is Coming Back—Whoever Wins the Election · Lawmakers in states including California and New York chafe at the $10,000 ... Feb 3, 2023 ... an itemized deduction on their federal income tax returns. The TCJA was passed in late 2017 and limited the SALT deduction to $10,000. The ...