As the Senate considers next steps for the House-passed “big, beautiful” tax bill, the battle lines have been drawn for a showdown over the state and local taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. (SALT) deduction.
The House package accommodates demands for a more generous SALT cap. For the sake of fairness and fiscal responsibility, the Senate should reconsider and hold the line against efforts to expand the cap beyond the design in place this year.
For the last eight years, the SALT deduction has been capped at $10,000 for all taxpayers, but the cap is scheduled to expire along with the other individual tax changes from the 2017 Tax Cuts and Jobs Act (TCJA) at the end of this year.
This is a preview of our full op-ed originally published in New York Daily News.
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