How would changes to the standard deduction interact with the salt deduction limit?

Sep 14, 2021 ... Correa Statement on SALT deduction being excluded in reconciliation package. Washington, D.C. — Today, Congressman Lou Correa (D-CA) released ... 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 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 18, 2024 ... The 2017 Tax Cuts and Jobs Act (TCJA) wisely capped the value of the SALT deduction at $10,000, which helped provide resources that were used to ... State and Local Tax (SALT) Deduction. The state and local tax (SALT) deduction permits taxpayers who itemize when filing federal taxes to deduct certain taxes ... Jul 8, 2022 ... For Virginia income taxes, the electing qualifying PTE and the PTE's owners are required to add-back their respective federal deductions for ... 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 ... Sep 20, 2024 ... House lawmakers are now strategizing how to maintain what could be an unlimited SALT tax deduction in the next Congress. Jan 30, 2025 ... The much-reduced SALT deduction would encourage wealthy taxpayers to move to states with low or no income taxes, such as Nevada, Texas and Florida. 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 ...