Bloomberg Tax
June 18, 2019, 2:51 PM

House Subcommittee Schedules June 25 Hearing on SALT Cap

Vivek  Shankar
Vivek Shankar

The House Ways and Means Select Revenue Measures Subcommittee will hold a hearing on the cap on state and local tax, or SALT, deductions next week, Chairman Mike Thompson said in a statement.

The 2017 tax law established a $10,000 cap on SALT deductions, which hit resident in high-tax states like New York and New Jersey. The IRS recently issued regulations designed to curb state policies intended to shield residents from the cap.

The hearing, titled “How Recent Limitations to the SALT Deduction Harm Communities, Schools, First Responders, and Housing Values,” is set for June 25.

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