SALT deduction

The Washington National Tax Office of Grant Thornton points out the most important state and local tax developments to keep an eye out for.

Lawmakers are trying to drum up support to allow a debate on raising the state and local tax deduction cap as bipartisan tax package negotiations leave out those proposals.

The former governor said he would keep the cap if elected president, declining to roll back a policy that has become a flashpoint for taxpayers in his own state of New Jersey.

Once primarily an issue for Democrats, GOP gains in New York have made the deduction an issue for them, too.

Rep. George Santos' first bill in Congress aims to boost the deduction from $10,000 to $50,000.

Highlights from the former president's returns for 2015 to 2020, from write-offs to the SALT deduction and more.

The California Small Business Relief Act established the tax credit, largely in reaction to the $10,000 limit on the state and local tax deduction under the Tax Cuts and Jobs Act.

The Empire State is expanding a tax break that allows smaller companies to circumvent the $10,000 limit on state and local tax deductions.

House Democrats who had threatened to block President Biden's tax and climate plan unless it also expanded the deduction for state and local taxes are signaling they'll back the legislation.

Senator Joe Manchin and Majority Leader Chuck Schumer have struck a deal on a tax, energy and climate bill, breaking a deadlock on the Democrats’ long-sought legislation to enact major parts of President Joe Biden’s agenda.