Trump’s ‘big beautiful bill’ could deliver 45.5% ‘SALT torpedo’ for high earners, tax pro says

cnbc.com/2025/07/11/trump-big-beautiful-bill-salt-tax.html

President Donald Trump's 'big beautiful bill' delivers a temporary higher limit on the federal deduction for state and local taxes, known as SALT. But the phaseout, or income-based benefit reduction, could trigger a tax surprise for some higher earners, experts say.
If you itemize tax…

This story appeared on cnbc.com, 2025-07-11 15:33:40.
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