The state and local tax deductions (SALT) debate is likely to drag on regardless of who wins Congress and the White House, the Wall Street Journal reported Tuesday.
Taxpayers who itemize deductions can get breaks for state and local income and property tax payments. In 2017, Republicans capped the deductions at $10,000 for married people to help offset other tax cuts, and the result was felt heavily by high-income residents in high-tax states.
While legislators from both political parties have felt pushback from their wealthy constituents, many see the next Congress as a window for adjustment when the deal expires in 2025. The unique aspect of the SALT cap is that it has divided it supporters and detractors regionally, and not necessarily by political party.
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