Future Retirement Success
  • Politics
  • Business
  • Investing
  • Stocks
  • Politics
  • Business
  • Investing
  • Stocks

Future Retirement Success

Politics

Speaker Johnson reaches tentative deal with blue state Republicans to boost cap on SALT deduction

by May 21, 2025
May 21, 2025
Speaker Johnson reaches tentative deal with blue state Republicans to boost cap on SALT deduction

House Speaker Mike Johnson has reached a tentative deal with blue state Republican lawmakers to boost the cap on state and local tax deductions, or SALT, to $40,000 in President Donald Trump’s so-called ‘big, beautiful bill,’ Republican sources confirmed to Fox News late Tuesday. 

The proposed cap – which is up from $30,000 – would be per household for taxpayers making less than $500,000 per year. 

 It remains unclear whether GOP hardliners who oppose raising the SALT cap deductions will sign off on the measure. 

The tentative agreement, first reported by Politico and confirmed by Fox News, comes as House GOP factions have been engaged in high-stakes debates on taxes, Medicaid, and green energy subsidies while crafting the president’s ‘big, beautiful bill.’

SALT deduction caps primarily benefit people living in high-cost-of-living areas like New York City, Los Angeles, and their surrounding areas. 

Republicans representing those areas have framed raising the SALT deduction cap as an existential issue, arguing that a failure to address it could cost the GOP the House majority in the 2026 midterms. 

Meanwhile, Republicans representing lower-tax states are largely wary of raising the deduction cap, believing that it incentivizes blue states’ high-tax policies. 

Fox News Digital’s Elizabeth Elkind contributed to this report. 

This post appeared first on FOX NEWS
0
FacebookTwitterGoogle +Pinterest
previous post
AI cash boom masks rise of ‘zombiecorns’ as funding gaps widen in startup ecosystem
next post
PPF Dubai: Why More Drivers Are Choosing Paint Protection Film

You may also like

Hamas launches first attack on Israel since ceasefire...

March 20, 2025

Trump House GOP ally on board with tax...

April 22, 2025

Insiders predict Rust Belt Republican, possible Trump VP...

June 16, 2024

Israel urges Palestinians to evacuate Rafah ahead of...

May 6, 2024

First on Fox: Massive donation to Trump from...

May 16, 2024

AZ State Representative-Elect Austin Smith In Victory Speech:...

November 9, 2022

Supreme Court to hear Republican challenge that could...

June 30, 2025

4 ways to repeal Obamacare

December 11, 2023

DeSantis defends migrant flights to California, blames sanctuary...

June 8, 2023

Georgia secretary of state expects subpoena as Mark...

August 24, 2023

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free

    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • 4 Senate amendments to Trump megabill that failed — and 1 that passed

      July 1, 2025
    • Tech Stocks Lead the Charge: What’s Driving the Momentum?

      July 1, 2025
    • “Did You Mean That Like That?” Conversations – Recognising Unintentional Bias in Business

      July 1, 2025
    • Pope, State Department condemn latest massacre of Christians by Islamist militants in Nigeria

      July 1, 2025
    • Dems vow to fight ‘tooth and nail’ as Supreme Court takes up campaign finance case

      July 1, 2025
    • Trump’s achievements embolden him to be even more aggressive

      July 1, 2025

    Categories

    • Business (8,354)
    • Investing (2,089)
    • Politics (15,887)
    • Stocks (3,181)
    • About us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: futureretirementsuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 futureretirementsuccess.com | All Rights Reserved