For years, taxpayers in high-tax states have felt the pinch of the $10,000 cap on state and local tax (SALT) deductions. That cap, put in place in 2017, limited the amount you could deduct for property taxes and state income or sales taxes. With the passage of the One Big Beautiful Bill Act (OBBBA) in 2025, the cap has been raised to $40,000 per household. This change provides new opportunities for savings, especially for those who itemize deductions.