Donald Trump, SALT and One Big Beautiful Bill
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Michael Dowling, CEO of Northwell Health, stands with Reps. Tom Suozzi (D-Glen Cove) and Laura Gillen (D-Rockville Centre) as they address the potentially harmful consequences of cuts to Medicaid, SNAP, and other safety-net programs in the recent House-passed budget reconciliation bill on Wednesday in Levittown. Credit: Newsday/Howard Schnapp
President Donald Trump is growing frustrated with demands to significantly boost the cap on the state and local tax deduction, according to a senior administration official, signaling a deadlock as Republicans aim to quickly pass a giant tax-cut bill.
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Explícame on MSNHow the GOP's new plan could change taxes for middle-class AmericansThe GOP’s 'One Big Beautiful Bill Act' extends 2017 tax cuts and adds deductions, sparking debate over its impact on the middle class and the economy.
It looks like a tentative deal has been brokered on Capitol Hill to provide a new SALT cap, increasing the state and local tax deduction from $10,000 to $40,000.