Tax deductions

Johnson urges Senate to minimize changes to $40K SALT deal

House Speaker Mike Johnson said he’s pressuring Senate Republicans to refrain from changing a deal to increase the state and local tax deduction cap to $40,000, pushing back on President Donald Trump’s willingness to scale back the write-off. “I’ve asked them to modify it as little as possible because I’ve got a very delicate balance […]

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House SALT deal must change, Senate leader says

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

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