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

The higher SALT cap would mean millions of mostly high-income taxpayers in high-tax states would save thousands of dollars off their taxes. The changes could go into effect for th

Senate Majority Leader John Thune has argued that the ability to write off state and local taxes only benefits homeowners in high-tax states.