“New York Republicans came out of a Mar-a-Lago meeting with Donald Trump on Saturday confident that the incoming president is on board with increasing a key deduction for state and local taxes,” Politico reports.
“And they have marching orders from Trump: Go back to Congress and negotiate a ‘fair number.’”
Bloomberg: “The main focus of the face-to-face meeting was the $10,000 cap on the so-called SALT deduction that was a signature feature of Trump’s 2017 tax cut bill, set to expire for tax years after 2025. The group wants to see the cap raised, or even eliminated, softening the burden on constituents who live in states like New York and California where the combination of high tax rates and expensive property values make a write-off especially valuable.”
