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The U.S. House of Representatives has passed a new tax and spending bill that significantly alters the state and local tax ...
The House of Representatives passed its version of the fiscal year (FY) 2025 budget reconciliation bill on May 22 by the narrow margin of 215 to 214, with one Member voting present. The bill, titled ...
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 ...
House Republicans are clashing with their own party's leadership in a battle to raise or eliminate the $10,000 cap on the SALT deduction. Here’s what you need to know: What is SALT tax deduction ...
Few tax matters have as many enemies as the so-called SALT deduction ... even without those Trump-proposed tax changes becoming permanent. And this is a bill written by Republicans.