NJ Lawmaker Seeks to Lift SALT Cap to $80,800 for Married Filers

A New Jersey Congressman is looking to roughly double the cap on state and local tax deductions to $80,800 for married couples, in a bid to secure more savings for residents in high-tax states.

US Representative Josh Gottheimer, a Democrat from New Jersey, unveiled a plan that would lift the cap from its current level around $40,000 — the ceiling for both single and married filers. He has dubbed the legislation The Tax Cuts Not Penalties for Married Couples Act.