House Republican tax bill passes 'SALT' deduction cap of $40,000. Here's who benefits.

House lawmakers on Thursday morning passed changes for the federal deduction for state and local taxes, known as SALT, as part of President Donald Trump’s tax package.

May 22, 2025 - 20:30
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House Republican tax bill passes 'SALT' deduction cap of $40,000. Here's who benefits.
House lawmakers on Thursday morning passed changes for the federal deduction for state and local taxes, known as SALT, as part of President Donald Trump’s tax package.

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