Senate Republicans are coming around to the $40,000 cap on state and local tax deduction key House lawmakers demand in President Donald Trump’s massive tax package, but they want to lower the income threshold. Senator Markwayne Mullin of Oklahoma, a key negotiator, said he plans to make the offer late Monday to House Republicans from […]
Senate GOP to offer $40K SALT cap with lower income threshold Read More »
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
Johnson urges Senate to minimize changes to $40K SALT deal Read More »
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 »
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