The "one big, beautiful bill" includes a new tax break for coastal elites. It's a deduction for up to $40,000 of state and ...

If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phase out ...

The bill now faces a difficult test of making it through a Republican-controlled Senate with different preferences and ...

New York's political leaders are trading barbs over a provision in President Donald Trump's "big, beautiful" budget bill that ...

The House has passed the president’s tax bill. Now the Senate can make it less fiscally reckless.

A U.S. House bill proposes raising the federal deduction cap for state and local taxes (SALT) to $40,000, potentially ...

The fate of the state and local tax deduction, or SALT, is dividing lawmakers by geography as well as politics.

Here is a look at who benefited and who lost out, or at least didn’t achieve big wins, from the Republican reconciliation ...

The U.S. House of Representatives passed the “One Big Beautiful Bill Act” by a slim 215-214 vote on Thursday, igniting a sharp divide across New York regarding its impact on health ...

California Republicans were pleased that lower- and middle-income residents will be able to deduct more of their state and local taxes, or SALT. The deduction, now capped at $10,000, would rise to $40 ...

Senate Republicans are staring down a collision course with the House as they weigh possible changes to the state and local tax (SALT) deduction cap as part of larger revisions to the party’s ...

The limit on state and local tax deductions would rise to $40,000, up from the current $10,000. The legislation places a new ...