SALT Cap Threatens Tax Talks

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SALT deduction

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tax cuts Republicans

MarketWatch

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Trump’s push for SALT tax reform threatened by hardline GOP budget hawks

Summary

Nutrition label

76% Informative

A $ 10,000 cap on the deduction taxpayers can claim on a federal return for state and local taxes paid.

That cap is estimated to increase federal revenues by about $1.2 trillion over 10 years .

It's a tax increase that hasn’t sat well with Republican lawmakers from high-tax states including New York and California .

“The main takeaway,” she added, “is that total deficit increases incurred by legislation passed in 2025 could easily exceed $5 trillion .” TaxWatch ( December 2024 ): Republicans succeed in clawing back more IRS tax-cheat enforcement funds. For now..

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

Language complexity

Offensive language

not offensive

Hate speech

not hateful