SALT deduction

Increasing funding for the IRS enforcement efforts could yield enough to pay for reinstating the full deduction.

Democratic and Republican House members are forming a bipartisan group to push for a repeal of the $10,000 cap on state and local tax deductions, demonstrating a broadening campaign to restore a valuable tax break.

Seventeen Democrats told House Speaker Nancy Pelosi they would be ready to oppose any tax legislation that doesn't restore the break.

Democratic governors from seven states, including New York, New Jersey and California, wrote to President Joe Biden urging him to remove the cap on state and local tax deductions enacted by Donald Trump.

President Joe Biden laid out what he called a “bold” plan to rebuild U.S. infrastructure, but now needs an equally ambitious effort to wrangle it through Congress in the face of Republican opposition and criticism from within his Democratic Party.

The Treasury Secretary said the limitation on state and local tax write-offs causes 'disparate treatment' across taxpayers.

Democrats will likely prove successful in raising individual income tax rates and in strengthening audits of wealthy Americans as they work on overhauling the U.S. Tax Code in coming months.

Some business owners can get hurt by workarounds to the $10,000 limit for state and local tax deductions.

Hopes among millions of upper-income and middle-class taxpayers for a repeal of the Trump administration’s limits on their federal deductions will likely be on hold for now, as an effort to include the measure in the COVID-19 aid package is poised to fail.

Two New Jersey Democrats are leading an effort to expand a valuable tax break for state and local levies in the next virus-relief package, a long-shot effort as lawmakers continue to squabble over the size and scope of the next round of stimulus.