The House just made a move that could shake up tax season for a lot of Americans-especially those in high-tax states. Lawmakers voted to raise the cap on the SALT deduction (short ...

As reported on May 16, 2025, the SALT cap proposal contained in the legislation that was pending in the U.S. House of ...

The approval of the 'One Big Beautiful Bill Act' in the House has highlighted significant divisions within the Republican ...

Two potential New York gubernatorial challengers helped negotiate a federal provision to quadruple the contentious $10,000 cap on the amount taxpayers can deduct from their state and ...

As the big, beautiful tax bill winds its way through Congress, Wisconsin construction companies are watching for tax ...

Baked into House Republicans’ sweeping tax package is an increase to the federal deduction for state and local taxes, a ...

The Joint Committee on Taxation, Congress’s in-house tax scorekeeper, released the much-anticipated score for the tax portion of the reconciliation bill.

Federal taxes would increase for many if Congress fails to renew tax cuts, but the legislation favors the rich.

But at the same time, lawmakers from high-tax states including New York are demanding a deeper tax deduction, known as SALT, for their ... what's currently a $10,000 cap on the state and local ...

Under the proposal, their standard deduction would be $35,200, resulting in a federal tax bill of $51,146. If they itemize with the proposed $40,000 SALT deduction, their total deduction increases by ...