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. 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. Several members of Congress have already announced that they will block the infrastructure plan if the SALT cap is not lifted.
The lifting of the SALT cap is controversial as it can cost more than $ 600 billion and appears to benefit the richest taxpayers. This article describes one way to partially override …
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