The $10,000 State and Local Tax (SALT) Deduction Cap is one of the provisions from the 2017 Tax Cuts and Jobs Act scheduled to expire at the end of next year . The cap is set to expire after the 2025 tax year.
This important provision ensures against double taxation and reflects mandatory tax payments, which support public services that benefit all citizens, such as K-12 schools, law enforcement and public safety, transportation and infrastructure, and vital community and public health services. The SALT deduction cap presents a barrier to affordable homeownership in New Jersey, impacting the ability of new, young families to prosper in the future and seniors to remain in their homes
Please consider passing the League’s sample resolution urging Congress to allow this provision to expire to allow for middle class tax relief in New Jersey.
Contact: Paul Penna, Senior Legislative Analyst, ppenna@njlm.org, 609-695-3481, x110.