House Restores SALT Tax Deduction – Trump Will Veto!

Posted: December 22, 2019 | Source: www.washingtonpost.com

The U.S. House of Representatives narrowly passed a two-year repeal of the 2017 $10,000 cap on state and local income taxes. However the Republican-controlled U.S. Senate is unlikely to pass and President Trump has said he will veto if it does pass the Senate. Despite efforts by the real estate industry, there was no action on the limits on home interest payments.