Reported 1 day ago
Republicans are drafting a tax bill that proposes raising the state and local tax (SALT) deduction limit from $10,000 to $25,000 for individuals. This move could secure support from key House members in swing districts, particularly in New York and Southern California. The plan may also renew parts of Trump's 2017 tax cuts and fulfill some campaign promises. However, the proposal is still in its early stages, with ongoing negotiations to determine the overall tax cut size and potential offsets.
Source: YAHOO