Page 21 - Salt Deduction News Today : Breaking News, Live Updates & Top Stories | Vimarsana

The SALT deduction cap could be increased, suspended or repealed.

The spending package could still include a measure to expand or temporarily remove the cap on the deduction on state and local taxes.

Joe Biden will likely eliminate a proposal to raise the state and local tax deduction deduction in the Demcorats' infrastructure bill.

Democrats risk settling for a less generous expansion of the state and local tax deduction than previously hoped after President Joe Biden conceded that lawmakers will have to scale back his economic agenda to get it enacted.

People are understandably upset about those aspects of the tax code, yet that's not how we raise 1.5 or$2 trillion to be able to pay responsibly for the priorities of the investments in this bill. one thing that ironically distinguishes us from the republicans right now is that we do want to be fiscally responsible. we don't want to just push more money into the economy without raising revenue in a way that is responsible. >> the one way you are looking to do it is to raise taxes on families making $400,000 or more. in your state of new jersey, there is pushback from those saying what about th...