Thanks to the Trump administration’s 2017 tax overhaul, that deduction was capped at $10,000 annually. As a result of that law, and other changes, about 13% of county filers deducted what they ...

House Republicans are clashing with their own party's leadership in a battle to raise or eliminate the $10,000 cap on the SALT deduction. Here’s what you need to know: What is SALT tax deduction?

Johnson suggested to reporters Wednesday that provisions for a higher state and local tax (SALT) deduction and to enforce new Medicaid work requirements sooner could be incorporated into the final ...

Copyright 2025 The Associated Press. All Rights Reserved. Copyright 2025 The Associated Press. All Rights Reserved. Speaker of the House Mike Johnson, R-La., speaks ...

Here's what the legislation would do: Adds a new $4,000 deduction for people 65 and older Senior citizens who are 65 and older would get a new tax benefit — an extra deduction of $4,000 per filer.

But the battle over the deduction for state and local taxes, known as SALT, remains in limbo. The text released Monday afternoon would raise the SALT cap to $30,000 for those with a modified ...

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In such situations, IRC section 165(a) states that “there shall be allowed as a deduction any loss sustained during the taxable year and not compensated for by insurance or otherwise.” Losses for ...

Photo Illustration: Annie Zhao WASHINGTON—House Republicans unveiled a tax plan that raises the state-and-local tax deduction, ends some taxes on tipped income and overtime pay and extends ...

It’s a non-starter with representatives in the House’s so-called “SALT Caucus,” who have campaigned for years to repeal completely the $10,000 limit on the deduction for federal income taxes.

The deduction would be capped at $10,000 for individuals and $20,000 for married couples filing jointly. The benefit would phase out for higher earners, starting at $100,000 for individuals and $ ...

What is successful right-wing art? I posed that question to Jonathan Keeperman, who runs the far-right publisher Passage Press, on my podcast a couple of weeks ago, and you can tell that it’s a ...