SALT Relief: House Votes to Kill Cap on Property Tax Deductions
HousingWire, Dec. 19, 2019–Kathleen Howley
The bill, HR 5377, passed Thursday by a 227-196 vote. It nixes the provision in the 2017 Republican tax bill that set a $10,000 cap on state and local taxes, known as SALT, that can be used as federal deductions. The cap strangled demand in some high-priced housing markets in coastal and northern states.