If the House provision is enacted, the SALT cap would rise to $40,000, up from $30,000 in the previous plan, and phases out over $500,000.

Although the deal is not done yet, House Speaker Mike Johnson and a group of GOP lawmakers mostly from the New York suburbs reportedly say they agreed on the basic parameters of a deal for a new

The current cap is $10,000 for the state and local property tax deduction. A previous proposal would raise it to $30,000