The House Ways and Means Committee could take up legislation as early as next week that would increase a limit on state and local tax deductions that has riled Democrats from high-cost regions, according to a senior panel member.
The “SALT” bill, which has not yet been released, is still in flux, but the $10,000 deduction limit set by the Republican-backed tax code overhaul would be raised to an as-yet undetermined level for three years, according to Rep. Bill Pascrell Jr.. A final figure hasn’t been decided on, the New Jersey Democrat said, describing it as “maybe $15,000 or $20,000, whatever that figure’s going to be.”