How has the salt deduction become a political issue?

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 17, 2018 ... Explain the new federal tax law's limit on the state and local tax (SALT) deduction. How does the limit impact Connecticut taxpayers and the ... 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 ... Expenses that are eligible for the itemized deductions include the SALT deduction (up to the $10,000 cap), tax deductible mortgage interest, charitable gifts, ... Sep 18, 2024 ... “To NJ07, SALT means getting our full state and local tax deduction back. But to @suealtman and her radical allies, SALT stands for 'Sue Altman ... Nov 9, 2017 ... The deductions for all of the state and local taxes is worth about $100 billion in 2017, according to projections from the Joint Committee on Taxation. Feb 8, 2025 ... The SALT deduction prevents residents from being taxed twice on the same income while ensuring state and local officials have the resources to ... Nov 26, 2024 ... Starting with the 2018 tax year, the maximum SALT deduction became $10,000. There was previously no limit. This has left some high-income filers ... 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. 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 ...