US EditionJohnson offers $40,000 SALT deduction cap with income limits
- Speaker of the House Mike Johnson has secured a preliminary deal to increase the SALT deduction limit to $40,000 for taxpayers earning less than $500,000 annually.
- The deal followed earlier rejected proposals to increase the cap from $10,000 to $30,000 and responded to threats from blue state Republicans to oppose the budget unless concessions were made.
- The agreement proposes a 1% annual increase to the SALT deduction limit over a decade, maintains the cap thereafter, and still requires endorsement from key tax lawmakers and fiscal conservatives.
- Republicans highlight that limits on SALT deductions mainly advantage residents of expensive metropolitan regions such as New York City and Los Angeles, while GOP members from states with lower taxes remain hesitant to endorse the proposal.
- If approved, the proposal could secure GOP support from blue state Republicans and influence the 2026 midterm elections by addressing key tax concerns within the party.
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Conservative Review
Conservative ReviewSenate May Kill The Silver Bullet Meant To Save GOP House Majority
One of the roadblocks in their way is the state and local tax (SALT) deduction cap, which some Republicans want to lower as part of revisions to the bill.
·Washington, United States
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House votes to increase SALT deduction
WASHINGTON (NEXSTAR) - House Speaker Mike Johnson (R-La.) reached a deal with Republican House members from blue states who pushed for an increase in the SALT deduction cap in President Donald Trump's 'big, beautiful bill', allowing it to pass the House. The Big Beautiful Bill that passed the House on Thursday would increase the SALT deduction cap from $10,000 to $40,000. Rep. Mike Lawler (R-N.Y.) led the charge in the House to get the SALT ca…
·Chicago, United States
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