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How a $40,000 SALT deduction cap could affect your tax bill
The House of Representatives just approved a tax bill that could raise the State and Local Tax (SALT) deduction cap for some Americans. Wealth host Brad Smith breaks down who would benefit if the bill is passed and what it means for your 2025 tax return.
Senate Majority Leader John Thune has argued that the ability to write off state and local taxes only benefits homeowners in ...
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House asses Trump's 'One Big Beautiful Bill Act' amid SALT cap controversyIn a razor-thin vote, the House of Representatives approved President Trump's 'One Big Beautiful Bill Act,' highlighting the ...
The future of President Donald Trump's "Big Beautiful" federal spending bill could come down to SALT tax deductions.
U.S. Rep. Elise Stefanik said she was the “deciding vote” on a megabill that quadrupled the maximum state and local tax ...
The narrow win for the bill, which hikes the deduction for state and local taxes to $40,000, came after Speaker Mike Johnson ...
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The bill proposes significant changes to student loan repayment options, Medicaid eligibility and the tax code.
The state and local tax deduction is up for consideration again on Capitol Hill. What does it mean for you and your property taxes?
The current version of the proposal calls for the state and local tax deduction cap to be hiked to $30,000, which a group of ...
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Trump law's SALT deduction to change until 2033The recent tax and spending bill passed by the U.S. House of Representatives aims to make permanent the 2017 tax cuts and ...
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