Stock Market Cafe
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
No Result
View All Result
Stock Market Cafe
No Result
View All Result
Home Trading News

House Democrats pass spending package with $80,000 SALT cap through 2030

by
November 19, 2021
in Trading News
0
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

House Democrats on Friday passed their $1.75 trillion spending package with a temporary increase for the limit on the federal deduction for state and local taxes, known as SALT.

The bill would boost the limit to $80,000 from 2021 through 2030 before dropping it back to $10,000 in 2031. Without changes, the current $10,000 cap will expire after 2025.

RELATED POSTS

This biotech went public 3 years ago at $14 per share. Here’s how its stock cratered to 27 cents

Ford Pauses $3.5 Billion EV Battery Plant. Why This Is Big.

More from Personal Finance:
Why student loan forgiveness is excluded from Dems’ spending bill
How to pay 0% capital gains taxes with a six-figure income
Inflation pushes income tax brackets higher for 2022

However, opponents say the measure is a write-off for higher earners.

“The current House version of SALT gives millionaires thousands in cash, while people who make less than about $100,000 per year get less than $20 on average,” tweeted Rep. Jared Golden, D-Maine, who voted against the bill.

The provision is likely to change in the Senate, where top Democrats are already exploring other forms of SALT deduction relief.

“It’s not about tax cuts for wealthy people,” said House Speaker Nancy Pelosi in her weekly press conference. “It’s about services for the American people.”

ShareTweetPin

Related Posts

This biotech went public 3 years ago at $14 per share. Here’s how its stock cratered to 27 cents

by
September 26, 2023
0

Ford Pauses $3.5 Billion EV Battery Plant. Why This Is Big.

by
September 26, 2023
0

Tuesday: Case-Shiller House Prices, New Home Sales

by
September 26, 2023
0

Charlie Munger Emphasizes Self-Awareness And Strategy: ‘I Don’t Play In A Game Where The Other People Are Wise And I’m Stupid. I Look For A Place Where I’m Wise And They’re Stupid’

by
September 25, 2023
0

Is Funded Trading Plus the Best Prop Trading Firm? Breaking Down the Facts

by
September 25, 2023
0

Next Post

5th Look at Local Housing Markets in October

Q4 GDP Forecasts: Around 5% to 6%

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

email

Get the daily email about stock.

Please Enter Your Email Address:

By opting in you agree to our Privacy Policy. You also agree to receive emails from us and our affiliates. Remember that you can opt-out any time, we hate spam too!

MOST VIEWED

  • Crocs sees fourth-quarter sales up 42%, CEO Andrew Rees says 2021 was ‘exceptional year’

    0 shares
    Share 0 Tweet 0
  • Biden didn’t accept Putin’s ‘red lines’ on Ukraine – here’s what that means

    0 shares
    Share 0 Tweet 0
  • Ford partners with GlobalFoundries to increase chip supplies

    0 shares
    Share 0 Tweet 0
  • CEOs across the market, economy agree on one big 2022 prediction: More volatility

    0 shares
    Share 0 Tweet 0
  • Inflation is sticking around – and Biden will likely have to wait it out like the rest of us

    0 shares
    Share 0 Tweet 0
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy
All rights reserved by www.stockmarket-cafe.com
No Result
View All Result
  • Home
  • Trading News
  • Email Whitelisting
  • Privacy Policy

All rights reserved by www.stockmarket-cafe.com