The Senate Finance Committee released its revisions to President Donald Trump’s “one big, beautiful” bill Monday night, implementing changes to

The proposal calls for "permanently" extending the $10,000 cap on so-called SALT deductions, first passed by Congress in 2017 and signed into law by President Donald Trump during his first term. Before 2017, there was no limit on the amount of state and local tax deductions a homeowner could write off when filing their federal income taxes.

Blue state Republican reps railed against rumored Senate plans to lower the state and local tax deduction (SALT) cap back down from the House-negotiated level of $40,000 back down to $10,000, its

The Senate Finance Committee and the House have each advanced their versions of the 2025 tax bill, both aiming to make permanent many provisions from the 2017 Tax Cuts and Jobs Act (TCJA). However, important differences could significantly impact estate and tax planning .

Big, Beautiful Bill timeline in jeopardy as Senate vote delays to June 22, leaving a tight window for House approval before the Treasury's early July debt ceiling deadline