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2w ago

GOP Leaders Propose Five-Year $40,000 SALT Cap in Tax Bill

Senate Republicans who oppose a higher deduction must sign off before the chamber can advance President Trump’s tax package

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Speaker Mike Johnson during a news conference at the US Capitol. Photo: Al Drago/Bloomberg via Getty Images
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Overview

  • House Republicans and the White House are negotiating a plan to raise the SALT deduction cap to $40,000 for five years and then revert to $10,000 for another five years.
  • The temporary increase could reduce the federal deficit impact by about $145 billion over a decade.
  • Treasury Secretary Scott Bessent is scheduled to present the proposal to Senate Republicans at a closed-door lunch, seeking their support.
  • Several SALT Caucus members, including Rep. Nick LaLota, have publicly rejected the five-year timeframe, demanding a permanent boost.
  • With no Senate Republicans representing high-tax states, GOP leaders face a critical vote expected this weekend to pass their reconciliation bill.