Senate Majority Leader John Thune believes the deal that led the House to increase the maximum deduction for state and local taxes to $40,000 will have to be changed in his chamber, according to his office. The Senate has begun deliberations over President Donald Trump’s massive “Big Beautiful Bill” that narrowly passed the House on […]
House SALT deal must change, Senate leader says Read More »
President Donald Trump said his massive tax package is close to being finalized, having notched a deal over the state and local tax deduction, but the White House has yet to win over a faction of conservatives who want more austere spending cuts. “We’re doing very well. It’s very close,” Trump told reporters Wednesday. House
Trump says tax bill ‘close’ as holdouts threaten to sink it Read More »
As Congress continues its effort to rewrite major portions of the tax code, the National Association of Realtors (NAR) unveiled new polling showing just what the American people are looking for in the legislation. The national survey shows overwhelming bipartisan support for tax provisions that strengthen homeownership, support small business owners and the middle class,
NAR: Americans want a tax plan that supports the American dream Read More »
As the debate over tax reform continues to play out in Congress, housing organizations are lauding the housing provisions in the House of Representatives‘ Ways and Means Committee’s current tax proposal. The National Housing Conference (NHC) praised the housing provisions included in the current draft of the bill through a statement from David Dworkin, its
MBA and NHC express support for housing provisions in GOP tax bill Read More »
The House tax committee is looking to raise the cap on the state and local tax deduction (SALT) and formally adopt several of President Trump’s campaign tax promises as part of a multi-trillion-dollar package, Republicans’ main legislative priority. The draft legislation, introduced by the tax-writing Ways and Means Committee in the House of Representatives on
House bill calls for bigger SALT tax breaks Read More »
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