SALT-Break Increase Seen Likely After Omission in Biden Plan (1)

Oct. 28, 2021, 4:17 PM

Democratic lawmakers expressed confidence that Congress will expand the federal deduction for state and local taxes as part of President Joe Biden’s social-spending package even though the proposal was omitted from a framework agreement announced Thursday.

“SALT will be in the endgame, yes,” House Ways and Means Chairman Richard Neal told reporters after a House Democratic caucus meeting with Biden at the Capitol on Thursday. He said he’s “waiting to see” if the SALT plan will resemble the latest idea of restoring the full deduction for two years, then returning to the current $10,000 limit for four years.

Representative ...

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