House Republican tax bill passes 'SALT' deduction cap of $40,000. Here's who benefits

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House Republican tax bill passes 'SALT' deduction cap of $40,000. Here's who benefits

cnbc.com/2025/05/22/salt-deduction-trump-tax-bill.html

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, or TCJA, of 2017, there's currently a $10,000 limit on the SALT deduction, and…

This story appeared on cnbc.com, 2025-05-22 11:44:26.