New Tax Law Quadruples SALT Deduction Cap To $40,000
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最新报道：The U.S. House of Representatives passed a bipartisan tax bill that increases the state and local tax (SALT) deduction cap from $10,000 to $40,000 through 2025, benefiting middle-class homeowners in high-tax states. The legislation, which also extends business tax breaks, now moves to the Senate where its fate remains uncertain. Supporters argue the measure provides relief to taxpayers, while critics warn it could increase the federal deficit. The bill represents a compromise between lawmakers from high-tax states seeking full SALT deduction restoration and fiscal conservatives concerned about revenue losses.
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