• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Editor's Pick

Trump tasks blue state Republicans with ‘homework’ as GOP plots massive conservative policy overhaul

by January 13, 2025
written by January 13, 2025

President-elect Donald Trump is giving Republicans his blessing to negotiate on a key tax that could prove critical to the GOP’s negotiations for a massive conservative policy overhaul next year.

Trump met with several different groups of House Republicans at Mar-a-Lago over the weekend, including blue state GOP lawmakers who make up the House SALT Caucus – a group opposed to the current $10,000 cap on state and local tax (SALT) deductions that primarily affect urban and suburban residents in areas with high income and property taxes, such as New York, New Jersey, and California.

‘I think it was productive and successful,’ Rep. Nicole Malliotakis, R-N.Y., said of the meeting. ‘The president supports our efforts to increase the SALT deduction. He understands that mayors and governors in blue states are crushing taxpayers and wants to provide relief from the federal level.’

But Trump also signaled he was aware of the opposition from others in the House GOP conference, particularly rural district Republicans, who have viewed SALT deductions as tax breaks for the wealthy. Before the cap was imposed in 2017, there was no limit to how much state income and local property taxes people could deduct from their income when filing their federal returns.

‘He gave us a little homework to work on, a number that could provide our middle class constituents with relief from the high taxes imposed by our governor and mayor, and at the same time, you know, something that can build consensus and get to [a 218-vote majority],’ Malliotakis said.

 ‘I think we pretty much know that it’s not going to be a complete lifting of the SALT cap. There’s not an appetite within Congress or even among American taxpayers to lower taxes for the ultra-wealthy.

‘Our efforts are really targeted to middle-class families, and that’s what we’re focused on in trying to achieve the right balance.’

The current SALT deduction cap has been opposed by New York and California lawmakers for much of its existence, since being levied in Trump’s Tax Cuts and Jobs Act (TCJA).

Trump suggested he would change course during his second administration as early as September last year, when he posted on Truth Social that he would ‘get SALT back, lower your taxes, and so much more.’

The discussions are part of Republicans’ wider talks about passing a massive fiscal and conservative policy overhaul via a process known as ‘reconciliation.’

By lowering the Senate’s threshold for passage to a simple majority instead of two-thirds, the process allows the party in control of both houses of Congress and the White House to pass certain legislation provided it deals with budgetary and other fiscal matters.

Some pro-SALT deduction Republicans, like Rep. Mike Lawler, R-N.Y., had signaled they could withhold support from the final bill if the cap was not increased.

‘The only red line I have is that if there is a tax bill that does not lift the cap on SALT, I would not support that,’ Lawler told Fox News’ Sunday Morning Futures.

Lawler also said Trump agreed that SALT deduction caps needed to be raised.

House Republicans have virtually no room for error with a razor-thin majority from Trump’s inauguration until likely sometime in April.

Meanwhile, Trump also told New York Republicans that he would help them fight their state’s controversial congestion pricing rule that levies an added cost to drive in parts of Manhattan.

‘He understands how unfair this is and how it would impact the city’s economy and the people we represent and so we’re currently working with him on legal options to reverse the rubber stamp of the Biden administration,’ Malliotakis said. ‘If there’s a legal option, if there’s a legal option for him to halt congestion pricing, he will.’

‘You have, you know, cops, police, firefighters, nurses, the restaurant workers that have to go in at odd hours, and they drive because they don’t feel that the transit system is clean or safe.’

Congestion pricing took effect in New York City earlier this month.

Fox News Digital reached out to the Trump transition team for comment on this weekend’s meeting.

Related Topics



This post appeared first on FOX NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Sullivan claims Biden admin leaves Russia, China and Iran ‘weaker,’ America ‘safer’ before Trump handoff
next post
Canadian leader meets with Trump at Mar-a-Lago to discusses energy relationship

related articles

President Trump teases ‘last day, but not really’...

May 30, 2025

Trump denounces court’s ‘political’ tariff decision, calls on...

May 30, 2025

State Dept says DOGE’s changes will be permanent...

May 30, 2025

Jill Biden should have to answer for ‘cover...

May 29, 2025

DOGE staffing shakeup as Elon Musk hangs up...

May 29, 2025

Hawley urges DOJ probe of Chinese trucking company

May 29, 2025

Less than half of DOGE-terminated contracts can be...

May 29, 2025

Flashback: Top five wildest moments from Elon Musk’s...

May 29, 2025

Sen Ron Johnson suggests he may not run...

May 29, 2025

Justice Department tells American Bar Association it will...

May 29, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • Mike Johnson mounts 20-state blitz to keep House red as GOP braces for Harris VP reveal

    August 5, 2024
  • Justice Alito plans to remain on Supreme Court, resisting pressure to step aside: report

    November 13, 2024
  • Iran regime under ‘immense pressure’ amid incoming Trump admin policies, regional losses, economic woes

    December 27, 2024
  • RFK Jr. wants to disrupt our powerful health care complex and it is terrified

    November 19, 2024
  • Rush orders, cut costs, crossed fingers: How small businesses are preparing for tariffs

    December 2, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (4,723)
  • Investing (624)
  • Stock (773)

Latest Posts

  • Biden says ‘anyway’ at least 9 times while trailing off in press conference

    July 12, 2024
  • Bitcoin price in bullish surge from new support

    August 21, 2024
  • Trump makes appearances at several Inaugural Balls around DC after jam-packed first day as POTUS

    January 21, 2025

Recent Posts

  • Boeing says it’s progressing on safety reforms and working with DOJ on revised plea deal

    April 3, 2025
  • EURUSD and GBPUSD: Pound tries to release pressure at 1.2800

    August 5, 2024
  • House GOP rolling out bill to block China from accessing US ports

    September 13, 2024

Editor’s Pick

  • UN forced to fire 9 employees over likely involvement in Hamas massacre: ‘Tip of the iceberg’

    August 5, 2024
  • North Korea slams Rubio’s ‘rogue state’ label as ‘nonsense,’ vows to push back against Trump administration

    February 3, 2025
  • PETA protests Biden turkey pardon with ‘Hell on Wheels’ display, subliminal messaging to make people go vegan

    November 25, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock