SALT Fairness and Deficit Reduction Act

[AI summary unavailable — showing source text] SALT Fairness and Deficit Reduction Act This bill increases the limitation on the tax deduction for state and local taxes to $60,000 (the limit is currently $10,000 for individual taxpayers). The bill also requires an annual inflation adjustment to the increased amount beginning after 2023, and extends through 2032 the period during which the limitation is in effect.…