The old debate over SALT is now front and center again. The reconciliation bill released by the House Ways and Means Committee Monday calls for a $30,000 state and local tax (SALT) deduction cap for taxpayers making less than $400,000. It’s a big increase, but falls short for a group of New York Republicans. I asked Rep Mike Lawler (R-NY) what his red line is. He wouldn’t divulge. “We are in the process of working with leadership and the administration on this,” Lawler told me. “Today was the first day in which they actually had a numbers discussion with us, which was absurd.” While the current figure is a nonstarter for Lawler and his New York colleagues, how much higher they want, and what opponents of a big hike could accept, is a key challenge that Republicans will have to navigate before a final package potentially makes it to President Trump’s desk.
Rising
Rising