"this new bill would increase the state and local tax deductions to $40,000, but only if your adjusted gross income doesn't exceed $500,000 a year. ... in order to receive this, you must also itemize your deductions instead of taking the standard deduction of $30,000."
By Graham Stephan | May 27, 2025 | Correct
From video
BREAKING: Trump’s "Big, Beautiful Tax Bill" Just Passed (These Changes Are WILD!) 00:05:18 - 00:05:43
Interpreted Prediction
The state and local tax (SALT) deduction cap will increase to $40,000 for individuals who itemize deductions and have an adjusted gross income (AGI) not exceeding $500,000 annually.
AI Evaluation Notes
Evaluated on 2026-04-20
The prediction correctly anticipated the provisions of the 'One Big Beautiful Bill Act' (OBBBA), which was signed into law on July 4, 2025, raising the SALT deduction cap to $40,000 for taxpayers with a modified adjusted gross income (MAGI) up to $500,000.

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