House Republicans Rush to Revise Tax Law Amidst Bipartisan Pressure
Vulnerable House Republicans in swing districts are pushing for changes to the $10,000 cap on state and local tax deductions, known as SALT, in a bid to secure their majority in the upcoming November elections. The proposed change would raise the cap to $20,000 for joint filers with gross adjusted income of $500,000 or less. The issue has become a focal point in high-tax areas, particularly in Democratic-led states like New York, New Jersey, and California, where the cap hits suburban districts hard. The outcome of the upcoming vote on the proposed change could have significant implications for both parties on the campaign trail.
