What are the current justifications offered for and against the salt deduction?

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. 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. 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. Mar 6, 2025 ... Be Wary of Pre-Emptive Tax Planning on Itemized Deductions & SALT · The $10,000 cap on state and local tax (SALT) itemized deductions is set to ... Nov 1, 2022 ... ... SALT deduction. New York, joined by Connecticut, Maryland, and New ... deductions (e.g., the $10,000 cap on SALT deductions). Generally ... SALT Deduction. One of my most important priorities in Congress is to restore the full State and Local Tax (SALT) Deduction. As a proud Vice-Chair of the SALT ... Mar 13, 2019 ... This blog focuses on what the reduced deduction means for taxpayers, especially in high-tax states like California, New York and New Jersey. The State and Local Tax (SALT) Deduction is one of the original components of the 1913 tax law that created the federal income tax. This. 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 ... 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 ...