The Republican party is heralding its new tax legislation as a win for middle income Americans. But the most substantial tax savings in the bill is reserved for wealthy individuals across the country—and particularly in high-tax states like California and New York.

The One Big Beautiful Bill Act is temporarily quadrupling the state and local tax deduction to at least $40,000, up from $10,000, for the next five years. Now it’s up to taxpayers to see if they can take advantage of this extra write-off, which is popularly referred to as the SALT deduction.

The new tax law hiked the SALT deduction cap to $40,000. That’s good news for taxpayers in high tax states, but it’s a temporary boost.

Final tax reform bill preserves SALT and PTET deductions for traders and professionals, avoiding SSTB carve-outs and ensuring pass-through parity.

A deduction to defray homeowners’ state income taxes and local property taxes is getting much more generous, following fierce debate among lawmakers in Washington. The focus on the write-off is now coming from homeowners deciding if they should use the deduction to their advantage for the first time in years.

A new $40K SALT cap could deliver long-awaited tax relief to homeowners in high-cost states like NJ, NY, and CA by cutting their tax burden.

The new law lifts what had been a $10,000 cap to $40,000 for tax year 2025 and then adjusts it upward by 1% a year for 2026, 2027, 2028 and 2029.

The latest SALT deduction change could mean thousands in tax savings for small businesses. But it’s won't be a permanent staple.

Lawmakers are close to a deal that would raise the SALT cap to $40,000—offering potential tax relief for homeowners in high-cost states.

Tossing more money at the housing market only benefits the few who qualify – and makes house hunting a futile chase for the masses.