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Business Report: No SALT relief in new federal spending bill

The new spending bill wouldn't raise or eliminate cap on state and local tax deductions

Aired 07/29/2022

NJ Spotlight News

Business Report: No SALT relief in new federal spending bill

Clip: 7/29/2022 | 3m 7sVideo has Closed Captions

The new spending bill wouldn't raise or eliminate cap on state and local tax deductions

Congress moved quickly this week to approve a bill designed to ease supply chain shortages for semiconductors, by supporting incentives for domestic chip manufacturing. But a new spending bill — addressing climate change, health care and inflation — is on a bumpier path. The bill does not include a proposal to raise or eliminate the cap on state and local tax deductions, or SALT.

Aired 07/29/2022

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