BREAKING: Senate GOP reach SALT and pass-through tax rate deals

By Vidya Kauri and Michael Macagnone | Law360

The Senate’s $1.4 trillion tax cut bill appeared to be nearing final passage in the chamber Friday after agreements were reached to increase the tax benefit for pass-through businesses and permit a deduction for state and local property taxes.

Sens. Ron Johnson, R-Wis., and Steve Daines, R-Mont., said Friday morning they would back the Tax Cuts and Jobs Act after they negotiated a deal with Republican leaders to hike the deduction for pass-through entities to 23 percent from an earlier proposal for a 17 percent deduction.



Share this!

Additional Articles

Rose Law Group pc values “outrageous client service.” We pride ourselves on hyper-responsiveness to our clients’ needs and an extraordinary record of success in achieving our clients’ goals. We know we get results and our list of outstanding clients speaks to the quality of our work.

News Categories