NJ Resolution Would Ask Feds To Repeal SALT Deduction Cap

The New Jersey Assembly would ask the federal government to repeal the cap on the state and local tax deduction as an ongoing relief response to the coronavirus pandemic under a proposed resolution.

Assembly member Joann Downey, D-Freehold, introduced A.R. 269 on Monday, which would ask the federal government to repeal the cap on the SALT deduction. The deduction is limited to $10,000 for single filers, head-of-household filers and married taxpayers filing jointly, and $5,000 for married taxpayers filing separately, according to the resolution.

The resolution claims the repeal of the deduction cap would offer relief to middle-class taxpayers suffering from the economic fallout of the pandemic.

--Editing by Vincent Sherry.

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