Democrats leading SALT discussions say they hope to have legislation ready for markup in October
Rep. Bill Pascrell, D-N.J., and House Democrats are looking to roll back the cap on annual state and local tax deductions. (Tom Williams/CQ Roll Call file photo)
A senior House Ways and Means Democrat said Wednesday that a full, though temporary, elimination of the current $10,000 cap on annual state and local tax deductions is among the proposals being discussed for a possible markup in the coming weeks.
Committee Democrats also discussed in a Wednesday caucus meeting how a “SALT” rollback and a raft of other tax legislation the committee has advanced or will soon consider might fit into a deal later this year with Senate Republicans, and what offsets might be offered as part of any package, said Rep. Bill Pascrell Jr., D-New Jersey.