The House tax subcommittee has proposed state and local tax (SALT) deductions that are much smaller than those desired by many Republican lawmakers from New York, New Jersey, and California, Bloomberg reported Monday.

Lawmakers from the high-taxed states want a $62,000 deduction cap for individuals, or twice that for couples, a source told Bloomberg. They also demand the levels are indexed for inflation in future years and that the higher limits are available for taxpayers starting in 2025.

However, the panel’s draft bill to renew President Donald Trump’s tax cuts calls for increasing the SALT deduction from the current $10,000 to $30,000 for couples and limits the write-off to households earning $400,000 or less, the outlet said.

Read more at Newsmax© 2025 Newsmax. All rights reserved.