Republicans Open to SALT Cap Hike

This is a California news story, published by MSN, that relates primarily to SALT news.

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unlimited SALT deduction

NewsNation

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Republicans eager to keep House control are open to Trump’s SALT reversal

Summary

Nutrition label

77% Informative

Republicans are open to raising the state and local tax ( SALT ) deduction cap.

The issue is especially potent in higher-tax blue states like California and New York that have a significant number of House Republicans defending battleground seats.

Trump earlier this month signaled a reversal on the SALT deduction cap, saying he would "get SALT back".

Democratic opposition to the SALT cap has been entrenched ever since it passed in 2017 .

With significant portions of the tax code set to expire next year , the next Congress is poised for a major tax fight in 2025 .

The taxation of partnerships, which are a type of commercial pass-through entity, could be a serious sticking point in the negotiating process.

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formal

Language

English

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