You Searched For "salt deduction" and got 20 results
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2 mins read
A shocking chart shows how Democrats want to give a tax cut to the top 1% that's 6 times bigger than any other wealth bracket
An analysis from the Tax Policy Center shows a huge tax cut for the 1% who make between $500,000 an…
Andy Kiersz,Ben Winck
3 mins read
Democrats are preparing to reverse a Trump-era tax move - and it could cut taxes for America's wealthiest residents
Taxpayers are capped in how much they can deduct for state and local taxes. Bernie Sanders says he …
Juliana Kaplan,Joseph Zeballo…
3 mins read
Democrats are feuding over tax breaks for people earning up to $550,000: 'We're really talking about folks who are in the top 2%'
What qualifies as middle class? To Bob Menendez, it's everyone earning below $550,000. Bernie Sande…
Joseph Zeballos-Roig
2 mins read
Bernie Sanders is pushing to limit a tax break in Biden's $1.75 trillion spending bill that would mostly benefit the rich
Sanders unveiled a plan Wednesday to ensure the rich don't get a tax cut in the reconciliation bill…
Tom Porter
2 mins read
Local taxes in NYC and San Francisco counties are the 6 highest in the country. Nowhere else even comes close.
Coming in seventh place is Fairfield County, Connecticut, which is a commuter district for NYC.
Ayelet Sheffey
2 mins read
AOC calls SALT deduction a 'gift to billionaires,' opposes effort to hold up infrastructure bill
Some Democrats argue capping the deduction for state and local taxes hurts blue states; Rep. Alexan…
Charles Davis
2 mins read
Wealthy Americans may get a tax cut 10 times bigger than a middle-class family in the Biden social spending bill
If Democrats lift the SALT cap, the social spending bill's benefits could be skewed toward higher e…
Joseph Zeballos-Roig
2 mins read
Bernie Sanders says a big tax break for the wealthy is out of the Biden spending bill, triggering pushback from moderates threatening to derail the entire package
"Democrats need to focus on the struggling working class, not giving more tax breaks to the wealthy…
Joseph Zeballos-Roig
3 mins read
Some House Democrats warn they will tank Biden's big bill if a hefty tax cut for the rich is dropped
"No SALT, no dice!," tweeted Rep. Josh Gottheimer. Other Democratic lawmakers made similar threats …
Joseph Zeballos-Roig
2 mins read
Biden's big spending bill is being partly held up by Democrats squabbling over tax cuts for the rich
Senate Democrats are still feuding over how to structure a tax break that would go to wealthier peo…
Joseph Zeballos-Roig
2 mins read
Biden says he's 'tired of trickle-down' economics but his party is showering private equity firms with big Trump-era tax breaks in numerous states
The WSJ reports that 20 states have measures to bypass a Trump-era tax on the wealthy. It's the kin…
Joseph Zeballos-Roig
3 mins read
5 things in Biden's $2 trillion spending plan that could get stripped out by the Senate, ranging from tax cuts to paid leave
Joe Manchin and Kyrsten Sinema haven't approved Build Back Better yet, jeopardizing measures like M…
Joseph Zeballos-Roig
4 mins read
Democrats are trying to sneak in a massive and unnecessary tax cut for the rich as part of their Build Back Better plan. It's absurd.
Congress should reject proposals to repeal or increase the state and local tax deductions cap, a ta…
Gary Haglund
2 mins read
'Beyond unacceptable': Bernie Sanders slams Democrats' $1.75 trillion spending package after analysis said it would cut taxes for the rich
Sen. Bernie Sanders of Vermont expressed his adamant opposition to repealing the SALT cap after ana…
Tom Porter
3 mins read
The big tax break for New Yorkers and Californians that Trump wiped out in 2017? Democrats are determined to bring it back.
Trump's 2017 tax law limited the SALT deduction tax break. Some Democrats want to bring it back but…
Juliana Kaplan,Joseph Zeballo…
6 mins read
11 tax deductions you won't want to forget about this year
Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highl…
Caroline Lupini
2 mins read
A fight over Trump's SALT tax cap is threatening to derail Biden's $2 trillion infrastructure plan
A bipartisan group of lawmakers is seeking to reverse a 2017 tax cap introduced by former President…
Kevin Shalvey
3 mins read
Nancy Pelosi's idea to retroactively lift the limit on state and local tax deductions would be almost useless for people who need the most help
House Speaker Nancy Pelosi is leading the charge. In an interview with The New York Times published…
Joseph Zeballos-Roig
4 mins read
Americans are about to lose a tax deduction worth over $500 billion every year - here's what to do now before Trump's tax plan goes into effect
Homeowners whose property tax bill is greater than $10,000 (and aren't subject to the alternative m…
Elena Holodny
5 mins read
What a Trump or Harris presidency would mean for your tax bill
BI looked at how Harris and Trump's tax policies could impact high- and low-income earners, as well…