That provision limits the official price tag for the GOP tax law over the next 10 years, but lawmakers in both parties are certain to push for an extension of the higher cap, just as they pushed to ...

Progressives reflexively denounce tax cuts and spending cuts as “giveaways to the wealthy” or “stealing from the poor.” So, ...

In parallel, the tax reform addresses the controversial SALT deduction, proposing a temporary increase in the deduction limit from $10,000 to $40,000 for households earning $500,000 annually.

The SALT cap again was one of the most controversial sticking points during OBBB negotiations. In the end, the OBBB temporarily raised the $10,000 SALT cap to $40,000 (the $10,000 cap will be ...

As Senate Republicans release key details of President Donald Trump’s spending package, some provisions, including the federal deduction for state and local taxes, known as SALT, remain in limbo ...

Over the past several months, the Trump administration has implemented key aspects of its economic policies by raising ...

WASHINGTON — Republicans muscled President Donald Trump's tax and spending cut bill through the House on Thursday, the final step necessary to get the bill to his desk by the GOP's self-imposed ...

House Republican leader Vincent Candelora of North Branford and Senate Republican leader Stephen Harding of Brookfield both said that increasing the SALT deduction for state and local taxes would ...

It passed the final version Thursday 218-214. Here's the latest on what's in the bill and when some of its provisions go into effect. GOP bill includes reductions for businesses and new tax breaks ...

Gov. Kathy Hochul is bizarrely slamming Rep. Mike Lawler for being unable to stand up to his own party, when that shoe fits a ...

WASHINGTON – The massive tax and spending bill that President Donald Trump signed into law last week contains a provision limiting tax deductions for gambling losses that has professional bettors ...

But the GOP leaders who implemented the cap in 2017 saw it not only as a revenue raiser, but also as a way to discourage state governments from taxing the rich — while keeping the largest tax ...