House GOP bill proposes changes to SALT deduction, affecting certain business owners.

The House GOP's "One Big Beautiful Bill Act" proposes raising the federal SALT deduction limit to $40,000 and boosting a tax break for pass-through businesses. However, it would end a popular workaround allowing certain pass-through business owners to bypass the current $10,000 SALT cap. This change could disadvantage specified service trade or businesses (SSTBs) if the bill is enacted as written, according to the American Institute of Certified Public Accountants.