SCOTUS Denies Challenge to State and Local Tax Deduction Cap

The U.S. Supreme Court has swatted down New York's challenge to the cap on the federal tax deductions for state and local taxes.

The current cap on SALT will remain at $10,000.

New York and two other states had argued the cap unfairly singled out high-tax Democratic states.

A bill to lift the cap remains stalled in the Senate.

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