Billy House
ReporterBilly House is a reporter with Bloomberg.
Billy House is a reporter with Bloomberg.
House Republicans are struggling to resolve issues with President Trump's multitrillion-dollar tax package, including the SALT deduction.
The committee also proposes limiting states' ability to pay their share of Medicaid by placing a moratorium on new or increased taxes on medical providers.
The debate over state and local tax deductions has been a thorny fight because it's a political priority for a small but vocal group of Republicans.
The state and local tax issue has been one of the most contentious for the House GOP to resolve.
The legislative push for the massive tax package will begin in earnest next week as key House committees consider the legislation despite lingering divisions.
Key House Republicans discussed ways to direct an expanded state and local tax deduction to those making less than $400,000.
Republican lawmakers pushing for the expansion of the state and local tax deduction are slated to meet with House Speaker Mike Johnson about the $10,000 cap.
Federal employee pension benefits are set to be pared back in Republicans' giant tax and spending package working its way through the House.
President Trump' and congressional leaders successfully corralled House Republican lawmakers to approve a Senate-passed budget outline.
Ultra-conservatives in the House are threatening to block a budget blueprint to kickstart tax cut negotiations, potentially delaying passage of Trump's economic plan.
Fiscal conservatives in the party want steep spending cuts to help offset the multitrillion-dollar tax-cut package.
Republican leaders say they are closer to a plan to extend the 2017 tax cuts and increase the debt ceiling.
GOP congressional leaders didn't negotiate with Democrats on the President Donald Trump-backed funding measure, which runs through Sept. 30.
House Speaker Mike Johnson, aided by a flurry of last-minute phone calls Trump had with wavering Republicans, overcame resistance from fiscal conservatives.
Treasury Secretary Scott Bessent and congressional leaders will begin meeting weekly as Republicans look to shape a tax cut package with a year-end deadline.
The proposal aims to smooth the passage of Trump's top legislative priorities.
President Donald Trump outlined his tax priorities in a meeting with Republican lawmakers, including expanding the state and local tax deduction.
When Elon Musk's team gained access to the computer network where data of nearly every American is stored, it caused alarm across the country.
The ambitious agenda includes extending Trump's signature tax cuts and enabling more oil and gas production.
Trump has expressed interest in reviewing options for adjusting the cap on the state and local tax deduction but is not currently advocating for a specific fix.