Trump, SALT deduction and big beautiful bill
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Trump, tax
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In a Congress addicted to bad ideas and bloated spending it’s rare to find a tax policy with broad, bipartisan support that also happens to be good policy. Health savings accounts are one of
RALEIGH, N.C. How should the American right view the passage of President Trumps signature tax and budget law? Is it really, as Republicans came to
Trump's tax and spending law will impact education savings, gambling losses and tips. Here's a breakdown of the highlights.
Grinnell College would have been the only Iowa school affected by a tax increase on colleges with large endowments in President Donald Trump's budget.
Many filers won’t be able to take full advantage of expanded deductions in the recently passed tax law.
The One Big Beautiful Bill Act is temporarily quadrupling the state and local tax deduction to at least $40,000, up from $10,000, for the next five years. Now it’s up to taxpayers to see if they can take advantage of this extra write-off, which is popularly referred to as the SALT deduction.
Congressional Republicans are looking to take a second bite of the apple with a ‘big, beautiful bill’ 2.0 in the fall, but fiscal hawks are skeptical that a second bill would provide the steep cuts they are looking for.