The Illinois Environmental Council has posted an analysis of the big bill just signed into law by President Trump.
You can read it here.
I can’t find anything positive.
Since my tax bill is over the past $10,000 limit, I consider raising it to allow a full deduction on next year’s income taxes a plus.
Here’s how the IEC described it:
“State and Local Tax (SALT) Deduction Cap Increase to $40,000 Through 2029, after which the cap reverts to $10,000, creating uncertainty for Illinois taxpayers facing high property taxes.“
Let’s see.
Four years of benefits are not mentioned, just “uncertainty” four years from now that the tax break might end.
Oh, well.
