U.S. President Donald Trump gestures before boarding Air Force One as he returns to Washington, D.C., in Lossiemouth, Scotland, Britain, July 29, 2025. Evelyn Hockstein | Reuters President Donald Trump‘s ‘big beautiful bill’ added a temporary $40,000 limit on the federal deduction for state and local taxes, known as SALT. But the phaseout, or income-based benefit reduction, creates what some …
Read More »Trump’s ‘big beautiful bill’ may hit high earners with ‘SALT torpedo’
