Last week, during a markup in the U.S. House Ways and Means Committee of H.R. 7024, the “Tax Relief for American Families and Workers Act of 2024”, New Jersey Congressman Pascrell offered an amendment to expand the State and Local Tax (SALT) cap deduction from $10,000 to $60,000 for single filers and $120,000 for joint filers. It was not agreed to.
The League appreciates Congressman Pascrell’s advocacy, along with other members of the New Jersey delegation, to end the $10,000 State and Local Tax Deduction Cap.