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SALT Cap Tweaks Back on the Table With New Republicans in Mix

Jan. 24, 2023, 9:45 AM

Republicans who oppose the state and local tax deduction cap gained ground on key committees this Congress—and are pushing ahead on ways to work around the limit.

California and New York Republicans snagged plum spots on the Ways and Means and Financial Services committees after electoral success in those high-tax states. The 2017 tax law set a $10,000 cap on state and local tax deductions, resulting in a dozen Republicans voting against the law. While it is unlikely that the SALT cap would be addressed before the limit expires in 2025, lawmakers hope to lay the groundwork to ensure the ...