Apparently 5 Republican Reps from NY, NJ and California have rejected the proposed increase in the SALT deduction from $10k to $30k. They are looking for a cap closer to $124k for married filing jointly as part of the tax proposal in the Big Beautiful Bill. Speaker Johnson only has a 3 vote margin and if he lost these 5, the final budget bill would not pass through the house. I do not doubt that this gets resolved, but it will just be interesting to see who wins this tug-of-war over deductions. https://www.politico.com/live-updates/2025/05/14/congress/jason-smith-salt-deal-50-billion-00347925
They do need to increase SALT. Probably going from $10K to $124K is way too much. Perhaps compromise around $50K will be accepted...I know I want that $10K raised.
They always cave. It’s just performative theater for Donny to call them and make them an offer they can’t refuse.
