As Democrats finalize their $1.75 trillion spending plan, relief for the $10,000 deduction cap for state and local taxes is still possible.
However, negotiations are ongoing and the plan specifics may change as lawmakers hammer out the details.
Rep. Josh Gottheimer, D-N.J., speaks during a news conference with the Problem Solvers Caucus on Dec. 3, 2020.As Democrats iron out their $1.75 trillion social and climate spending package, the plan may still include relief for the $10,000 cap on the federal deduction for state and local taxes, known as SALT.
The limit has been a pain point for high-tax states, such as New York, New Jersey and California, preventing Americans who itemize deductions from writing off more than $10,000 for property and state income taxes on their federal returns. While the measure wasn't addressed in President Joe Biden's framework, House Democrats on Tuesday inched closer to an agreement on SALT relief.
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