Massachusetts lawmakers on Friday approved a workaround for the $10,000 cap on federal deductions for state and local tax payments.
The SALT cap fix is included in a compromise $48.07 billion fiscal year 2022 budget bill (H. 4002) that was approved by the House on a 160-0 vote, and the Senate by 40-0. The fiscal year began July 1, and the state has been operating on an interim budget since then.
The budget bill that went into House-Senate conference had a $47.6 billion price tag, including estimated revenue of $30.1 billion. The conferees emerged with a bill ( ...
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