Taxes May 18, 2025
“Allowing the top tax rate to expire—returning from 37% to 39.6% for individuals earning more than $609,350 and married couples earning more than $731,200—breathes $300 billion of new life into the effort." Rep. Nick LaLota posted on X.
Taxes May 16, 2025
House Republican leaders couldn’t nail down the votes needed to advance the GOP’s giant budget reconciliation bill out of the Budget Committee on Friday in the face of opposition from a handful of hard-line Freedom Caucus members.
Taxes May 15, 2025
Rep. Mike Lawler traded insults with fellow Republican Rep. Marjorie Taylor Greene in a nasty online spat over his push for a higher cap on deducting state and local taxes.
Taxes May 14, 2025
House Republicans could land on a compromise on the state and local tax deduction on Wednesday, a deal that would represent a breakthrough in one of the thorniest policy debates in President Donald Trump’s economic package.
Taxes May 13, 2025
New York Reps. Mike Lawler and Nick LaLota say they plan to vote against the president’s tax cuts package because it only includes an increase in the SALT cap to $30,000, too low for the middle-class and affluent communities they represent.
Taxes May 12, 2025
The House Ways and Means Committee release of the tax measures, ahead of planned debate on the panel Tuesday, is a sign the Republican-controlled chamber is moving toward a floor vote this month on the legislation.
Taxes May 9, 2025
Rep. Nicole Malliotakis (R-NY) suggested she backs the GOP leadership proposal to increase the SALT cap to $30,000 from the current $10,000, even as other Republican lawmakers trashed it as a non-starter.
State and Local Taxes May 2, 2025
The $10,000 cap on SALT, one of the most contentious issues in the GOP debate on its giant tax bill, remained unresolved as lawmakers left Washington on Thursday.
State and Local Taxes February 6, 2025
President Donald Trump outlined his tax priorities in a meeting with Republican lawmakers, including a call to end the carried interest tax break used by private equity fund managers and expand the state and local tax deduction.
Taxes February 6, 2025
The survey was created to gauge the impact of the $10,000 cap on SALT deductions imposed by the Tax Cuts and Jobs Act (TCJA) in 2017. The cap is due to expire this year.