What are some of the alternative approaches to addressing the issue of state and local tax burdens within the federal tax system?

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. Apr 12, 2019 ... Full deductibility of property taxes is a SALT workaround that benefits middle class taxpayers more (by percentage of lost SALT deductions ... 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. Sep 26, 2024 ... The TCJA eliminated itemized deductions subject to the 2% adjusted gross income (AGI) floor, like unreimbursed employee expenses, brokerage and ... Jan 9, 2025 ... The SALT Fairness for Working Families Act would help save taxpayers money by increasing the SALT deduction cap to $15,000 and eliminating the ... May 7, 2020 ... We consider options that would limit all itemized deductions, not just the SALT deduction, and an additional option that would raise the four ... 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 ... Expenses that are eligible for the itemized deductions include the SALT deduction (up to the $10,000 cap), tax deductible mortgage interest, charitable gifts, ... 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. 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 ...