Senate Republicans on Tuesday passed changes to the federal deduction for state and local taxes, known as SALT, as part of President Donald Trump's multitrillion-dollar spending bill. Passed via the Tax Cuts and Jobs Act, or TCJA, of 2017, there's a $10,000 limit on the SALT deduction through 2025, which has been a pain point for certain lawmakers in high-tax blue states. If enacted, the Senate bill would lift the cap to $40,000 starting in 2025. That benefit would start to phaseout, or decrease, for consumers who earn more than $500,000 of income. Both figures would increase by 1% yearly...