Schumer Pledge to End SALT Cap Signals Strained Tax Talks Ahead

Senate Majority Leader Chuck Schumer (D-N.Y.) would end the state-and-local tax deduction cap if he remains in control of the Senate after the November election, setting up a showdown over one of the most contentious tax provisions at stake next year.

Republicans imposed the $10,000 state-and-local tax deduction limit in the 2017 tax overhaul, drawing opposition from GOP members from high-tax states. Since then, the cap has spurred intra-party battles among both Democrats and Republicans. The deduction is crucial to New York and California members from both parties, but resonates less with lawmakers and taxpayers in other parts of the ...