You know the House GOP wants SALT deductions to appease blue state Republicans whose constituents got hammered living in the world built by their high tax state legislatures. The House version of the “Big Beautiful Bill,” wrote in $40,000 in SALT deductions, up from $10,000 presently. Senate Majority Leader John Thune (R-SD) suggests that not a single GOP senator is willing to give blue states that kind of subsidy. And Bloomberg’s Erik Wasson and Steven T. Dennis report that President Trump appears to agree with Thune. They write:
Donald Trump and Republican senators discussed ways to scale back the $40,000 state and local tax deduction cap in the House version of the president’s tax-cut bill, Senate Majority Leader John Thune said.
“There really isn’t a single Republican senator who cares much about the SALT issue,” Thune told reporters as he departed the meeting with Trump on Wednesday.
“It’s an issue that there’s a lot of passion for and about among Republican senators. Obviously, the House has different equities when it comes to that issue, but we’ll work it out,” he added.
Read more about the SALT deduction fight here:
Action Line: House and Senate Republicans will have to find a way to make contentious SALT deductions work if they want to move the bill onto President Trump’s desk. Click here to subscribe to my free monthly Survive & Thrive letter.
