Income taxes

The bill from Chuck Grassley and other Senate Republicans would extend the $10,000 cap on the state and local tax deduction for federal income tax filers.

Sponsors of the Supporting American with Lower Taxes Act see it as a potential compromise on the contentious state and local tax deduction cap issue.

Democrat-leaning states argue that the $10,000 SALT cap deduction is politically motivated and violates the U.S. Constitution.

President Joe Biden's $1.7 trillion bill passed the House after months of debate and without any of the municipal bond market's priorities.

The Build Back Better reconciliation bill would raise the SALT cap to $80,000 from $10,000, and that impact varies widely from state to state.

Two major pieces of President Joe Biden's domestic agenda, which carry implications for the municipal bond market, advanced in the House Friday.

The SALT deduction cap could be increased, suspended or repealed.

SALT relief was not part of the initial language in the reconciliation bill, but several moderate Democrats say they won't support the legislation without it.

In the first quarter of 2021, state personal income rose by 14.4%, the largest year-over-year increase since reporting began in 1948.

The future is looking up for Salt Lake City International Airport as it continues redevelopment with $900 million of revenue bonds.