Republican lawmakers from the House, including leaders and representatives from heavily Democratic states, have reached an agreement to raise the cap on the state and local tax deduction—commonly known as SALT—to $40,000. Speaker Mike Johnson shared the news, confirming the change would be included in the GOP’s reconciliation package.
“That is the agreement we came to,” Johnson told CNN on Wednesday, according to Bloomberg.
“I think the SALT caucus, as they call themselves, it’s not everything they wanted, but I think they know what a huge improvement that is for their constituents and it gives them a lot to go home and talk about.”
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