Among the different items in the big domestic policy bill that was voted through the U.S. House of Representatives, the increased cap on SALT deductions has been a big sticking point in the tri-state area, and New Canaan-based accountant Roy Abramowitz says, it could make a big impact in Connecticut.

When people file their federal taxes, they choose one of two deductions - either the standard, which is based on filing status and is a set amount around $30,000 for a married couple or by itemizing different deductions.

Abramowitz explains those itemizations can include a lot of different things, including medical expenses, charitable donations and even mortgage interest.

Usually one of the biggest things in the itemized deductions is the state and local taxes - or SALT - which combines things like state income tax, car tax and real estate and property taxes.

However, Abramowitz says "that is all limited to a deduction of $10,000 right now, and living in this neck of the woods, you can reach that $10,000 number in overall limitation we have now pretty quickly."

Because of that cap, Abramowitz says the standard deduction is usually the better choice for families, explaining "you could come into say, maybe $24,000 of total itemized deductions, which includes the $10,000 (SALT) deduction, so you're going to elect to take the $32,000 standard."

Since so many people in higher taxes states, like Connecticut, pay much more than $10,000 in SALT, Republicans in some of the other states with similar rates made the cap a sticking point to get their votes for President Donald Trump's "big, beautiful bill."

Thanks to pressure from them, the version that passed the House would increase SALT deductions to a maximum of $40,000, with phaseouts for anyone making more than $500,000 a year.

If that gets signed into law, Abramowitz says when filing, "you could push getting the benefit all the itemized deductions in total, which will now exceed the $32,000 standard deduction."

While it is mainly seen as a benefit to home owners, Abramowitz says it would really help anybody who owns anything, since if "you're a doctor, a dentist, a sole proprietor, a CPA, a lawyer, you pay property taxes on the equipment in your business," and that all falls under the umbrella of SALT.

Abramowitz says the higher cap would make the itemized option a better choice for even middle and lower income people living in places like Connecticut with so many taxes.

"Therefore, you'll get a benefit for your medical expenses," he says. "there'll be more charitable contributions because now you'll get a benefit for it, which would benefit the community."

The bill is expected to see some changes in the Senate, with concerns over how the government will make up for the $334 billion that the non-partisan Penn Wharton Budget model estimates it would lose with the increased SALT limit.