What are the potential economic and distributional effects of these different proposals?

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 8, 2025 ... The legislation will increase the SALT deduction cap to $100,000 for single filers and $200,000 for married couples filing jointly ... Jan 29, 2021 ... ... (SALT) deduction starting in 2021. The proposal would allow taxpayers to fully deduct their state and local taxes on their federal income returns ... The SALT deduction reflects a partnership between the federal government and state and local governments. Apr 3, 2025 ... The SALT deduction shifts some of the burden of state and local taxes from taxpayers to the federal government. By reducing the deduction's ... 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 ... Nov 26, 2024 ... A higher cap or a full repeal of the SALT cap would mostly benefit high-income earners, making either change a regressive policy. Jan 27, 2025 ... As an individual, your deduction for state and local taxes (SALT) (lines 5a, 5b and 5c on Schedule A of Form 1040) is limited to a combined ... Feb 5, 2024 ... KEY VOTE: “No” on SALT Deduction Cap Increase (H.R. 7160) ... Heritage Action opposes the State and Local Tax (SALT) deduction cap increase (H.R. ... Oct 19, 2017 ... The tax plan from President Trump and congressional Republican leaders would end the federal deduction for state and local taxes (SALT).