Trump, GOP and tax
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Trump’s big bill advances in rare weekend vote
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Republican leaders and a group of moderate Republicans in high-tax states have reached a tentative deal to increase the cap on state and local tax deductions, Politico reported on Tuesday, citing people with direct knowledge of the agreement.
President Donald Trump urged House Republicans to stop negotiating and pass his sweeping filibuster-proof reconciliation bill Tuesday.
A faction of New York's Republican congressional delegation has threatened to reject any tax package that does not give a meaningful raise to the SALT cap.
Republican tax bill could cost $3.8 trillion over 10 years as its tax cuts surpass spending reductions, according to one analysis.
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The unexpected voice vote comes as congressional Republicans work to pass legislation that would include a similar provision.
President Donald Trump on Tuesday argued that Republicans are “tremendously unified” despite party infighting over his sweeping budget and tax cuts bill.
The greatest benefits would go to high-income households, while low-income families would see a much more modest boost, analyses show.
House Republicans advanced the bill late Sunday, but budget analysts across the political spectrum warn that the proposal worsens the U.S. fiscal picture.
President Donald Trump is growing frustrated with demands to significantly boost the cap on the state and local tax deduction, according to a senior administration official, signaling a deadlock as Republicans aim to quickly pass a giant tax-cut bill.