Senate Deadlocked on SALT, With Draft Bill Showing Current $10,000 Cap

The Senate’s version of President Donald Trump’s tax bill calls for a $10,000 cap on the state and local tax deduction — a placeholder figure as Republicans remain divided over the valuable tax break.

The draft bill — slated to be released later on Monday — includes the current $10,000 SALT cap, according to a person familiar with the matter. But the Senate will continue to negotiate the deduction as it aims to pass the legislation by a self-imposed July 4 deadline.