House Ways and Means Committee Chairman Richard Neal (D-Mass.) promised a “full-throttle discussion” on the $10,000 cap on the state and local tax deduction in the coming weeks.
Ways and Means Democrats met Sept. 10 to discuss their agenda for the rest of the year. The committee will likely decide on Sept. 12 whether to mark up a bill altering the cap, Rep. Bill Pascrell (D-N.J.) said after the meeting. Democrats want some action on the cap, which is unpopular in high-tax states such as New Jersey, New York, and California.
The SALT limit was added in the 2017 tax ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.