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OBBB Act proposes raising SALT deduction cap to $30,000, facing opposition over $200B annual cost.
The One Big Beautiful Bill Act (OBBB) proposes raising the state and local tax (SALT) deduction cap from $10,000 to $30,000, with a phaseout for those earning over $400,000.
The bill faces opposition from some Republicans, who worry about the $200 billion annual revenue loss starting in 2027.
It also introduces measures to combat foreign taxes and maintains current treatment of foreign income and anti-abuse taxes.
The bill accelerates the expiration of some "green" tax credits and restores bonus depreciation for certain property until 2030.
Despite the OBBB's wide-ranging provisions, the SALT deduction remains a contentious issue.
La Ley OBBB propone elevar el límite de deducción de SALT a $ 30,000, enfrentando oposición por más de $ 200B en costos anuales.