The National Association of Home Builders (NAHB) is pleased by the tax relief that will come from reducing the limit placed on taxpayers under SALT deductions. While NAHB opposes the Build Back Better Act, the SALT deduction allows itemizing taxpayers to deduct taxes to state and local governments from their federal tax return.

 
In 2017, the Tax Cuts and Jobs Act, included the SALT deductions temporary capped at $10,000. Previously, there were no limits. After the House passed the Build Back Better Act this past week, the cap is now $80,000 and will be active until 2030 while the current limit is set to expire after 2025.

The Senate may cut the House's push for the end of the cap for all taxpayers in favor of making the $10,000 deduction limit on SALT permanent but exempting from that limit taxpayers earning $400,000 or less.


https://nahbnow.com/2021/11/house-moves-to-raise-limits-on-state-and-local-tax-deduction/