House lawmakers relaunch the SALT caucus. What to know about the $10,000 deduction limit
A group of bipartisan House representatives relaunched the state and local tax caucus last week, calling for relief from the $10,000 limit on the federal deduction for state and local taxes.
It's been a key issue for certain lawmakers in high-tax states because taxpayers can't deduct more than $10,000 in state and local levies on their federal returns. However, without a unified proposal and few opportunities for a vote, repealing the SALT deduction limit may be challenging. Rep. Bill Pascrell, D-N.J., speaks at a news conference announcing the state and local taxes caucus outside the Capitol on April 15, 2021.the SALT caucus last week, calling for relief from the $10,000 limit on the federal deduction for state and local taxes.
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