GOP tax writers would raise cap on SALT deductions to $30,000 but set income limit

The House Ways and Means Committee in a Monday meeting proposed raising the cap on state and local tax deductions to $30,000 but limiting them to those earning under $400,000, according to people familiar with the matter.

The proposal represents a compromise on one of the top disagreements among Republicans as they seek to write a major fiscal overhaul to implement President Donald Trump’s agenda and extend the 2017 Tax Cuts and Jobs Act, which first set a $10,000 cap on deductions for SALT, as it is known.