In the negotiations over the Democrats’ social spending package, the fate of the State and Local Tax (SALT) cap has been one of the hardest to pin down.
At some stages, the issue hasn’t been addressed at all. Other times, a full repeal has seemed to be on the table.
What this controversial tax provision does is let certain taxpayers deduct their aggregated state and local taxes when it comes time to do their federal tax return. In 2017, Republicans capped the previously limitless deduction…
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