GOP zeros in on shorter timeline to avert SALT meltdown
Why it matters: That could move one of the bill's thorniest issues closer to being resolved. But House SALT holdouts and senators — who have almost no incentive to be generous on SALT — still need to agree.
Zoom in: At least one House holdout, Rep. Nick LaLota (R-N.Y.) told Axios he's a "no" on that offer. "I need 40k for my constituents, and it has to be 40k forever," he told Axios.
But Rep. Mike Lawler (R-N.Y.) told CNN he's optimistic after the SALT crew's meetings with Treasury officials.
Rep. Nicole Malliotakis (R-N.Y.) told reporters she's inclined to support the deal, even if she doesn't love it.
Between the lines The House-White Hose proposal would keep the House's language raising the cap to $40,000 for five years, but then revert to the current $10,000 cap after that, two sources familiar tell Axios.
That could reduce the deficit hit from raising the SALT cap by as much as $145 billion, one told Axios.
The House SALT caucus, with its handful of blue-state representatives, Sen. Markwayne Mullin (R-Okla), Treasury Secretary Scott Bessent and other White House officials have been involved in the negotiations.
Bessent is expected to discuss the plan with Senate Republicans during a closed-door lunch Friday, sources said.
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