A partial lifting may remedy Biden’s SALT cap dilemma

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Law360 (April 9, 2021, 6:04 p.m. EDT) – The Biden government has proposed an extensive infrastructure program, as well as a number of tax law changes, to fund it.[1] It does not include a lifting of the so-called SALT cap, the restriction on the deduction of state and local taxes contained in the Tax Reduction and Jobs Act of 2017.[2] Several members of Congress have already announced that they will block the infrastructure plan if the SALT cap is not lifted.[3]

The lifting of the SALT cap is controversial as it can cost more than $ 600 billion and appears to benefit the richest taxpayers.[4] This article describes one way to partially override …

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