President Trump has urged Congress to fast-track his tax bill after negotiators reached a provisional agreement on the state-and-local tax (SALT) deduction.
“The House of Representatives must be ready to send it to my desk before July 4th — we can get it done,” the president wrote on Truth Social, setting a fresh deadline. His post came hours after he had told reporters that missing his target of Independence Day would not end everything if lawmakers needed extra time due to negotiations taking longer.
Trump wants to move his tax bill as Bessent says SALT deal is close
In the early hours of today, Scott Bessent told Fox Business that he had a discussion with the “SALT Republicans” at the Treasury Department. “My sense is we’re very close to a deal. It’s going to help the voters in their district, but it is going to be fair for the overall American people,” he said, urging every side to “put away individual interests.”
Those lawmakers, most from New York, New Jersey, and California, want to keep the House bill’s deal that lifts the yearly deduction cap to $40,000 from the current $10,000 limit. The current draft moving in the Senate would leave the cap at $10,000. Several members from high-tax districts said earlier that they would vote against the entire bill unless the ceiling is raised, a threat that would sink the bill in the narrowly divided House.
Over the last few days, negotiators have united around keeping the $40,000 limit. However, senators are suggesting trimming other parts of the House plan, such as setting a lower income cutoff for taxpayers to claim the write-off. On Friday, US Rep Nick LaLota said he had heard of a proposal that limits the SALT cap at $40,000 for a total of five years, followed by a drop back to $10,000. “I can’t be a yes on that,” LaLota said. “That just affirms the very thing I’ve been against for so long.”
Another New York Republican, Mike Lawler, described the discussions as “productive” but gave no more details. Speaker Johnson was also optimistic, telling reporters that the negotiations would be “resolved in a manner that everybody can live with.” He added, “No one will be delighted about it, but that’s kind of the way this works around here.”
The bill would pour several hundred billion dollars into the military, immigration enforcement, and border patrol while trimming a series of domestic aid programs. It could reduce Medicaid health insurance spending for disadvantaged citizens, food assistance, and college financial aid.
The post Trump plans to fast-track his tax bill after provisional SALT deal first appeared on Coinfea.