SALT Repeal, Trump Tax Cut Permanency Pushed by House GOP Group

The Republican Study Committee proposed a $5.1 trillion tax cut in its budget released Wednesday, including provisions to make the individual cuts in the 2017 tax law permanent and a full repeal of the state-and-local tax deduction.

The budget also would make permanent tax breaks for research and development, full bonus depreciation, and interest expense deductions, which all expired last year. The RSC, a group of conservative House Republicans that releases a budget each year separate from the House Budget Committee, also would repeal the Inflation Reduction Act’s clean energy tax credits as well as the extra funds the ...