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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.
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Along with the increase in the SALT deduction, the tax exemption for "pass-through" companies would be increased with President Trump's projectThe U.S. Congress is evaluating a significant reconciliation bill, dubbed the 'One Big, Beautiful Bill,' championed by ...
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As the Senate considers next steps for the House-passed “big, beautiful” tax bill, the battle lines have been drawn for a ...
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 ...
Some congressional lawmakers are trying to lift Trump-era caps on state and local tax deductions as part of the new Republican tax bill.
The tax deduction was crucial to getting the bill through the House. Senate action would set up a showdown with blue state ...
No one is calling for a return of the country club dues tax deduction, but even conservatives say that’s more defensible than ...
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Increasing the $10,000 cap on the state and local tax deduction could benefit millions of tax filers.
One of the most controversial tax provisions in President Donald Trump’s “big, beautiful bill” could soon be retooled in the ...
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