Trump tax plan

House Speaker Mike Johnson said he's pressuring Senate Republicans to refrain from changing a deal to increase the state and local tax deduction cap to $40,000.

The deal that led the House to increase the maximum deduction for state and local taxes to $40,000 is not set in stone in the Senate.

President Trump said his massive tax package is close to being finalized, but the White House has yet to win over a faction who want more spending cuts.

President Trump suggested his sweeping tariffs would help him reduce income taxes for people making less than $200,000 a year.

A sizable increase to the current $10,000 limit on SALT write-offs would represent a major victory for a crucial group of swing-district House Republicans.

Treasury Secretary Scott Bessent and Trump's National Economic Council director, Kevin Hassett, are set to meet Tuesday with House and Senate Republican leaders and their top tax writers to try to resolve differences over the scale of cuts and ways of paying for them.

The stopgap funding bill paves the way for Republican lawmakers to pivot to signature border and tax bills they seek to pass in the coming months.

House Republicans are in talks over raising the cap for state and local tax deductions after winning pledges to include it in a must-pass tax bill this year.

Senate Republicans would like to do a large bill on immigration and energy first and then tackle tax reform in a second bill. House Republicans prefer one large bill.

Scott Bessent, President-elect Donald Trump's pick to serve as Treasury secretary, is aiming to build support for his nomination