Even though a 2017 study of Russian cosmonauts concluded that everything we thought we knew about salt might be completely wrong, the House and Senate are poised to pass tax legislation taking away our daily dose of SALT. While salt (NACL or Sodium Chloride) is completely different from SALT (state and local taxes), I love them both and don’t want anyone other than my internist to limit my intake. Neither the cosmonauts nor my internist have denounced science as of yet, so both opinions are still highly valued.
Now that the House of Representatives has passed their version of “tax reform” the extinction of the state and local tax deduction seems closer to reality. As passed, the House Bill completely eliminates any deduction for state and local income taxes, but still allows property tax deductions up to $10,000. The Senate version, still working its way to a vote, goes even further by eliminating the $10,000 window for property tax deductions.