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Jason Furman, who served as former President Barack Obamas top economic adviser, tweeted Thursday that the distributional effect of the Houses $80,000 SALT cap is even worse than I had feared," citing a Tax Policy Center analysis released earlier in the day.

This could be greatly ameliorated by adding an income limit for the expansion of the cap so that no one making over a middle-class income, broadly defined, gets it, Furman said. Some Senators have been talking about this, I hope they do it.

The TPC analysis shows the benefit of the $80,000 cap for those cut off from relief under the Sanders-Menendez proposal: Households earning between $500,000 and $1 million next year would receive an average tax cut of $6,100 under the House bill.

And while overall households earning over $1 million next year would see tax increases totaling about $68,000 on average, within that group nearly two-thirds of millionaires would still see tax cuts worth nearly $16,800.

Tax cuts for higher earners wouldnt span the full decade under the House plan because it extends the cap past its current 2025 expiration. That means later in the decade, the $80,000 cap would be a burden, rather than relief.

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