Neal Promises SALT Deduction Cap ‘Revisit,’ Eye on Endowment Tax

The Democrat-led House Ways and Means Committee will take a new look at the cap on deduction of state and local taxes and the tax on college endowments, among other provisions of the 2017 tax law, incoming Chairman Richard Neal (D-Mass.) said.

“We are going to revisit the SALT deduction, I can tell you that,” as part of hearings on the law, he told a Nov. 27 forum hosted by the New England Council, a business group.

It’s unlikely that Democratic bills revamping the 2017 tax overhaul would be signed into law by a Republican president, but public ...