Congress Mulls Changes to Cap on SALT Write-Off

njspotlightnews.org

When they rewrote the federal tax code in 2017, members of Congress placed a $10,000 limit on the “state and local tax” deduction, often called SALT for short, that Donald Trump signed into law during his first term.

And while it appears unlikely an unlimited SALT deduction will be restored in the near future, a lifting of the cap is getting strong consideration.