Reported about 11 hours ago
House Speaker Mike Johnson is urging Senate Republicans to keep changes to the proposed increase of the state and local tax (SALT) deduction cap to $40,000, resisting potential reductions suggested by President Trump. As negotiations progress, Johnson emphasizes the importance of this cap for representatives from high-tax states like New York and California, highlighting that alterations could jeopardize the legislation's passage. Several House Republicans threaten to block the bill if the SALT deduction is diminished, setting the stage for intense negotiations before the July 4 deadline.
Source: YAHOO