House Republicans are calling for a higher limit on the deduction for state and local taxes, known as SALT, as part of President Donald Trump‘s tax and spending package.

The House Ways and Means Committee, which oversees tax, released the full text of its portion of the bill on Monday afternoon. The SALT provision would raise the cap to $30,000 for those with a modified adjusted gross income of $400,000 or less.

However, the SALT deduction limit has been a sticking point in tax bill negotiations and the provision could still change significantly. The committee is scheduled to debate and vote on the legislation on Tuesday afternoon.    

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Enacted via the Tax Cuts and Jobs Act, or TCJA, of 2017, there’s a $10,000 limit on the federal deduction on state and local taxes, known as SALT, which will sunset after 2025 without action from Congress.

Currently, if you itemize tax breaks, you can’t deduct more than $10,000 in levies paid to state and local governments, including income and property taxes.

Raising the SALT cap has been a priority for certain lawmakers from high-tax states like California, New Jersey and New York. With a slim House Republican majority, those voices could impact negotiations.

While Trump enacted the $10,000 SALT cap in 2017, he reversed his position on the campaign trail last year, vowing to “get SALT back” if elected again. He has renewed calls for reform since being sworn into office.

Lawmakers have floated several updates, including a complete repeal, which seems unlikely with a tight budget and several competing priorities, experts say.

“It all has to come together in the context of the broader package,” but a higher SALT deduction limit could be possible, Garrett Watson, director of policy analysis at the Tax Foundation, told CNBC earlier this month.

Here’s who could be impacted.

When filing taxes, you choose the greater of the standard deduction or your itemized deductions, including SALT capped at $10,000, medical expenses above 7.5% of your adjusted gross income, charitable gifts and others.

Starting in 2018, the Tax Cuts and Jobs Act doubled the standard deduction, and it adjusts for inflation yearly. For 2025, the standard deduction is $15,000 for single filers and $30,000 for married couples filing jointly.

Because of the high threshold, the vast majority of filers — roughly 90%, according to the latest IRS data — use the standard deduction and don’t benefit from itemized tax breaks.

Typically, itemized deductions increase with income, and higher earners tend to owe more in state income and property taxes, according to Watson.

For example, an earlier proposal, which would remove the “marriage penalty” in federal income taxes, involves increasing the cap on the SALT deduction for married couples filing jointly from $10,000 to $20,000.

That would offer almost all the tax break to households making more than $200,000 per year, according to a January analysis from the Tax Policy Center.

“If you raise the cap, the people who benefit the most are going to be upper-middle income,” said Howard Gleckman, senior fellow at the Urban-Brookings Tax Policy Center.

Of course, upper-middle income looks different depending on where you live, he said.

Forty of the top 50 U.S. congressional districts impacted by the SALT limit are in California, Illinois, New Jersey or New York, a Bipartisan Policy Center analysis from before 2022 redistricting found.

If lawmakers repealed the cap completely, households making $430,000 or more would see nearly three-quarters of the benefit, according to a separate Tax Policy Center analysis from September.

Not having access to their brokerage accounts during big market swings can hurt their strategies because they are actively managing their portfolios, said Braxton, a member of CNBC’s Financial Advisor Council.

But for long-haul investors, a login glitch that lasts a few hours might not make a huge difference, she said.

“Most investors are not chasing the market,” Braxton said.

Technical issues at brokerages have happened in the past. In August, customers of Charles Schwab and Fidelity Investments were unable to trade in the middle of a steep market sell-off of global equities.

If a blip like this happens again, “it is important for investors to remain calm,” said Carolyn McClanahan, a certified financial planner and the founder of Life Planning Partners in Jacksonville, Florida. She’s also a member of CNBC’s Financial Advisor Council.

While it can be a grievance at the moment, such technical difficulties are temporary — “these outages usually don’t last long,” said CFP Cathy Curtis, the founder and CEO of Curtis Financial Planning in Oakland, California.

And besides, “tech outages will not affect the value of investments,” said Curtis, a member of CNBC’s Financial Advisor Council. 

The Treasury Department will send notices to 5.3 million defaulted borrowers about the collection activity of their wages “later this summer,” the Education Department wrote in a recent press release.

As soon as June, the Trump administration says it will begin seizing portions of defaulted student loan borrowers’ federal benefits when applicable, including their Social Security retirement checks. (Social Security recipients can typically see up to 15% of their monthly benefit reduced to pay back their defaulted student debt, but beneficiaries need to be left with at least $750 a month.)

Borrowers can also challenge the wage garnishment if it will result in financial hardship, he added.

You can contact the government’s Default Resolution Group and pursue a number of different avenues to get current on your loans, including enrolling in an income-driven repayment plan or signing up for loan rehabilitation. 

Some borrowers may also be eligible for deferments or a forbearance, which are different ways to pause your payments, said Carolina Rodriguez, director of the Education Debt Consumer Assistance Program in New York, in an earlier interview with CNBC.

“We’re advising clients to request a retroactive forbearance to cover missed payments, and a temporary forbearance until they can get enrolled in an income-driven repayment plan,” she said.