House Democrats' stimulus bill rolls back $10,000 SALT cap for 2 years

A new coronavirus relief bill has been proposed — and it will restore a big chunk of the state and local tax deduction for two years.

House Democrats released the text Tuesday for its latest proposed Covid-19 relief measures.

The $3 trillion Health and Economic Recovery Omnibus Emergency Solutions Act — or HEROES Act — calls for another round of economic stimulus payments to Americans, plus enhancements to the employee retention tax credit.

Tucked away in the bill is a measure that will reinstate the so-called SALT itemized deduction for 2020 and 2021.

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https://www.cnbc.com/2020/05/12/house-democrats-stimulus-bill-rolls-back-10000-salt-cap-for-2-years.html