03 November 2021

Democrats considering five-year repeal of SALT cap in spending bill

thehill.com

Democrats are considering including in their social spending package a five-year repeal of the cap on the state and local tax (SALT) deduction, sources told The Hill. Lawmakers are looking at repealing the $10,000 cap through 2025 and offsetting the cost of doing so by imposing the cap in subsequent years, according to a Democratic aide and a Democratic lawmaker familiar with the discussions. Repealing the SALT deduction cap is a top priority for a number of House Democrats in high-tax states [...]