How does the salt deduction affect the overall progressivity or regressivity of the federal tax system?

Oct 5, 2024 ... I often see many progressives in support of the SALT Deduction, despite the fact that it is effectively just a major handout to rich people. The SALT deduction for state and local taxes can only be claimed if you itemize on your tax return - that is, when your itemized deductions are greater than ... Mar 12, 2025 ... Enacted via the Tax Cuts and Jobs Act, or TCJA, of 2017, there's currently a $10,000 limit on the federal deduction on state and local taxes, ... FAQs – 2022 House Bill 444 – Federal State and Local Tax Deduction Workaround. Terms used in this Guidance; What is HB 444? Which entity types entities can ... Feb 7, 2024 ... The SALT Marriage Penalty Elimination Act would reform the penalty in which married couples filing taxes jointly are limited to $10,000 in SALT ... Mar 6, 2020 ... The SALT deduction reduces the cost of state and local government taxes to taxpayers because a portion of the taxes deducted is effectively paid ... Jan 9, 2025 ... According to press reports, policymakers are considering changes to the $10,000 state and local tax (SALT) deduction cap as part of their ... Mar 24, 2025 ... Limiting the SALT deduction for corporations was originally raised by the House Freedom Caucus as a funding mechanism for an increase in the ... Feb 13, 2024 ... The SALT deduction typically includes state and local income taxes, property taxes and sales taxes for taxpayers who itemize their return versus ... Feb 12, 2025 ... $15,000/$30,000 SALT Cap: The current SALT deduction cap would be increased to $15,000 for individual taxpayers and $30,000 for married couples, ...