Trump, SALT DEDUCTION and sweeping reconciliation bill
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House lawmakers on Thursday morning passed changes for the federal deduction for state and local taxes, known as SALT, as part of President Donald Trump’s tax package.Enacted via the Tax Cuts and Jobs Act,
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A bigger SALT deduction, cuts to Medicaid, and new MAGA accounts are in the House GOP’s bill. Here’s how it may impact you.
As reported on May 16, 2025, the SALT cap proposal contained in the legislation that was pending in the U.S. House of Representatives (“House”)
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The SALT deduction cap should be $0. People should not be able to deduct their state and local tax burdens from their federal taxable income.
House lawmakers debated the contours of President Donald Trump’s tax cuts throughout the night as they race to meet a self-imposed deadline to approve the legislation by Thursday.
Welcome to The Hill’s Business & Economy newsletter {beacon} Business & Economy Business & Economy The Big Story SALT cheat sheet: Key hurdle to Trump’s tax plan
The state and local tax deduction is up for consideration again on Capitol Hill. What does it mean for you and your property taxes?
Federal taxes would increase for many if Congress fails to renew tax cuts, but the legislation favors the rich.