Gee and Ursula on new SALT deduction cap

As part of President Donald Trump's "big, beautiful bill," the federal cap on state and local taxes (SALT) has been raised from $10,000 to $40,000, Realtor.com reported. The online real estate marketplace noted 16.8% of Seattle homeowners and 9.4% of Washington homeowners exceeded the previous $10,000 SALT deduction cap. "That actually is a big deal for a state like ours, where we don't pay income tax, but we do pay huge property taxes," KIRO host Ursula Reutin said on "The Gee and Ursula Show" Tuesday. However, Ursula pointed out critics believe the change still favors higher-income earners and doesn't fix the problem of affordability.