Archive · 25 Jun 2025
Republicans Near SALT Deal, Senate Vote Expected This Week
The government is trying to agree on a tax plan.
A big disagreement is about the SALT deduction, which lets people deduct state and local taxes.
Treasury Secretary Bessent thinks Republicans will agree soon, possibly raising the deduction limit.
Some House members want a higher limit.
Senator Mullin is talking to people from different states to reach an agreement, but some are not happy.
The Senate is expected to vote this week, with the goal of getting the bill passed soon.
Treasury Secretary Bessent anticipates a deal on SALT deduction within 24-48 hours.
Republicans negotiate SALT deduction cap, potentially to $40,000.
Senator Mullin leads SALT talks, income threshold under discussion.
Representative Lawler insists on House's $40,000 SALT cap proposal.
Bessent aims for Senate to vote on tax bill by Friday.
- Who
- Treasury Secretary Bessent, Senator Mullin, Representative Lawler, and other Republicans.
- What
- Republicans are negotiating on the SALT deduction within a larger tax and spending package.
- When
- Deal expected within 24-48 hours; Senate vote possible by Friday.
- Where
- U.S. Capitol Hill.
- Why
- To resolve key issues within President Trump's economic legislation.
- SALT Deduction Cap Proposals
- $10,000 (Senate), $40,000 (House)
- Negotiation Timeframe
- 24-48 hours (estimated)
- Primary Negotiator
- Senator Mullin
- Legislative Goal
- Pass Trump's tax package by July 4 deadline