
Senate GOP Approves $40,000 SALT Deduction Cap: Who Gains From the Tax Shift?
Senate Republicans have passed a tax bill setting a new $40,000 cap on state and local tax (SALT) deductions. The move reshapes the deduction landscape and could benefit upper-middle-class earners in high-tax states.
Published on7th June 2025 Senate GOP Approves $40,000 SALT Deduction Cap: Who Gains From the Tax Shift?
Senate Republicans have passed a tax bill setting a new $40,000 cap on state and local tax (SALT) deductions. The move reshapes the deduction landscape and could benefit upper-middle-class earners in high-tax states.
Published on7th June 2025