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What is the SALT cap, and how does it impact California taxpayers?
Breaking that out more, 20% of taxpayers in California’s 40th Congressional District — represented by Kim, it covers eastern Orange County and parts of Riverside and San Bernardino counties — claimed SALT deductions in 2017; only 7.5% did in 2022, according to data from the National Association of Realtors.
These High Tax States Could Benefit the Most From Higher SALT Deduction
Few states have more riding on the future of the SALT deduction than New York. With some of the highest property taxes in the country and a high-income tax rate layered on top, New York residents are disproportionately affected by the current $10,000 cap on state and local tax deductions.
3don MSN
Republicans in the House stayed up all night to pass their multitrillion-dollar tax breaks package, which includes a ...
3don MSN
Increasing the $10,000 cap on the state and local tax deduction could benefit millions of tax filers. But a proposal to do just that has become a point of contention and a possible roadblock to House ...
KWQC on MSN2d
How change in tax deductions could impact IllinoisThe version passed by the House increases that deduction limit to $40,000. The increase was a big point of contention for ...
U.S. Rep. Elise Stefanik said she was the “deciding vote” on a megabill that quadrupled the maximum state and local tax ...
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