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A REPEAL OF the state and local taxes cap would lower the burden for households earning at least $1 million by $40.4 billion, or 52% of the $77.4 billion in additional tax breaks that the repeal would provide, according to the Joint Committee on Taxation. / BLOOMBERG NEWS FILE PHOTO/MICHAEL NAGLE

SALT cap repeal would be $40B windfall for millionaires

WASHINGTON – More than half of the benefit of repealing the $10,000 deduction cap for state and local taxes would go to millionaires, according...
THE HOUSE OF REPRESENTATIVES has passed the GOP's tax bill. / BLOOMBERG FILE PHOTO/ANDREW HARRER

Senate passes U.S. tax overhaul, putting GOP on brink of big...

WASHINGTON – Senate Republicans passed the most extensive rewrite of the U.S. tax code in more than 30 years, a bill that delivers a...
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