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A proposed increase to the SALT deduction cap would primarily benefit upper-middle-income households in high-tax states like California, New York, and New Jersey, but only for those making under $400,000 annually.
Advertising Disclosure: When you buy something by clicking links within this article, we may earn a small commission, but it never affects the products or services we recommend. The $10,000 cap on state and local tax (SALT) deductions has been a thorn in the side of many taxpayers since it was implemented in 2017. Now, House Republicans are proposing a significant adjustment that could provide…
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