SALT Cap’s Temporary Repeal Is an Option, N.J.’s Menendez Says

Democratic Senator Bob Menendez of New Jersey said repealing the $10,000 cap on the federal deduction for state and local taxes for a few years could be a possibility as Congress wrestles with lawmakers’ demands to scrap it.

“That’s the beginning towards helping to create relief. That could be a possibility, but raising the cap doesn’t solve anything,” Menendez said Tuesday. He said he expects agreement on SALT “to get relief right to taxpayers who overwhelmingly are donors to the national good.”

Menendez’s formulation builds on remarks by a House Democrat, Bill Pascrell of New Jersey, who said earlier this ...