Trump, SALT and Tax Bill
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House Republican leadership on Wednesday night unveiled last-minute tweaks to President Trump’s tax cut and spending priorities bill, including increasing the state and local tax (SALT) deduction
Members of the SALT Caucus and Republican House leadership have agreed to a compromise on raising the cap on state and local tax deductions, a breakthrough for the GOP as it tries to pass its $4 trillion tax-cut and spending bill.
The future of President Donald Trump's "Big Beautiful" federal spending bill could come down to SALT tax deductions.
The potential reduction in federal revenues would be enough to buy 13 new aircraft carriers. The USS Mike Lawler, anyone?
The current cap is $10,000 for the state and local property tax deduction. A previous proposal would raise it to $30,000
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House Republicans appeared stuck in reconciliation limbo as of Wednesday morning with no changes to the text ready to be unveiled, after an all-night Rules Committee session.
The House Rules Committee started debating the “big, beautiful bill” at 1 a.m. Wednesday and is still going, seeking consensus from the Republican factions that want their conditions