In this episode of The Big Beautiful Breakdown, Chris Wittich takes a closer look at the updated SALT cap, one of the most hotly contested parts of the new tax bill.

While the cap on state and local tax deductions has been increased from $10,000 to $40,000, it now comes with a sharp phaseout for joint filers between $500,000 and $600,000 of income. The result? A potential effective federal tax rate over 43 percent in that range.

Chris walks through the math, the impact, and why smart planning matters more than ever, especially for wage earners and high-income professionals.