Taxes August 11, 2025
SALT, which can be claimed by taxpayers who itemize their deductions, is why the very rich get less of a break in California than most other states, according to experts.
State and Local Taxes July 28, 2025
The budget reconciliation plan Republicans pushed through Congress this summer includes a tax change that Democrats as well as some Republicans in high-tax blue states have backed for years.
State and Local Taxes July 25, 2025
Now that the 2025 federal tax bill has been signed into law, it’s appropriate to revisit one of its most news-making elements: the federal deduction for state and local taxes.
State and Local Taxes June 16, 2025
The Senate Finance Committee Monday rolled back the SALT deduction cap to $10,000 in its first draft of President Trump's sprawling budget bill, a dramatic reversal from the $40,000 that was negotiated in the House last month.
Taxes June 16, 2025
State CPA societies across the country are expressing their strong opposition to a provision in the One Big Beautiful Bill Act which would eliminate the ability of specified service trades or businesses (SSTBs) to deduct state and local taxes (SALT) at the entity level.
State and Local Taxes June 6, 2025
Senate Majority Leader John Thune (R-SD) has suggested the upper chamber will have to make some changes to the massive tax breaks and spending package passed by the House—including to the SALT cap.
Taxes June 3, 2025
It's not clear yet how extensive the changes to the House's nearly $4 trillion tax package will be, but lawmakers and interest groups see plenty of opportunities for tweaks to suit their needs.
Taxes May 22, 2025
House Republicans sent to the Senate a filibuster-proof package that would deliver the major elements of President Donald Trump’s legislative agenda, from tax cuts and border security to lifting the nation’s borrowing limit.
Taxes May 22, 2025
House Republican leaders released a new version of President Donald Trump’s massive tax-and-spending bill Wednesday night in a bid to win over warring GOP factions to support the legislation.
Taxes May 21, 2025
Republicans Wednesday were closing in a on deal to raise the cap on deducting state and local taxes to $40,000 a year, a key breakthrough that would boost passage of President Trump’s sprawling budget bill.
Taxes May 20, 2025
Republican leaders had hoped the high-profile presidential visit would close deal on Trump-backed “big, beautiful” filibuster-proof reconciliation bill Tuesday.
Taxes May 20, 2025
President Trump headed to Capitol Hill Tuesday to push squabbling Republican members of Congress in person to set aside differences and pass his sprawling budget bill.