What are the arguments for capping or eliminating the salt deduction?

Oct 19, 2017 ... The tax plan from President Trump and congressional Republican leaders would end the federal deduction for state and local taxes (SALT). Oct 1, 2024 ... The Tax Cuts and Jobs Act (TCJA), P.L. 115-97, limited itemizers' state and local tax (SALT) deductions to $10,000 for tax years 2018 ... 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 ... Jul 27, 2021 ... ... (NY-02) led a letter to Congressional leadership calling for the immediate repeal of the State and Local Tax (SALT) deduction cap. 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 ... 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. Aug 25, 2021 ... The SALT deductions are limited by a new cap of. $10,000, effective 2018. The unique impact of the new SALT deduction cap on home prices is. Sep 9, 2024 ... In 2017, the average SALT deduction taken in New Jersey was $19,000, nearly double the current cap, and $24,000 in Bergen County. The deduction ... Beginning in 2018, the itemized deduction for state and local taxes paid will be capped at $10,000 per return for single filers, head of household filers, and ... Sep 17, 2024 ... Trump signals he'd restore full SALT deduction, but Democrats are skeptical ... WASHINGTON – Donald Trump vowed Tuesday to “get SALT back” - an ...