Trump To Offer Plan To Boost Salt Deduction

Politico: “While exact details weren’t available, one proposal being discussed would allow married couples to deduct $20,000 of their state and local taxes from their federal income taxes. Under current law, married couples can deduct only $10,000, which is the same for single taxpayers.” “In return, the so-called SALT Republicans will be expected to fall in line behind a sweeping tax bill the GOP hopes to enact later this year.”

Topics:  politico    in   salt republicans   gop   couples   married   deduct   taxes   
BING NEWS:
  • New York delegation continues push for SALT deduction as new plans emerge
    Senate Majority Leader Chuck Schumer (D-N.Y.), in a Senate floor speech Friday, criticized the House Freedom Caucus proposal and urged congressional Republicans to allow the current SALT cap, which is ...
    01/18/2025 - 5:32 am | View Link
  • These Republicans are ready to derail Trump's tax cuts over the SALT cap
    President-elect Donald Trump’s signature tax cut bill could hinge on a House Republican fight over state and local tax deductions.
    01/16/2025 - 4:14 am | View Link
  • More

 

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