Trump spells out tax plan for House GOP leaders in White House meeting
President Donald Trump met with House Republican leaders at the White House on Thursday to discuss his tax priorities. Among those in attendance were House Speaker Mike Johnson, Majority Leader Steve Scalise, and Majority Whip Tom Emmer. During the meeting, Trump reiterated his campaign promise to stop taxing tips and outlined several other key priorities.
White House Press Secretary Karoline Leavitt provided updates to reporters throughout the lengthy meeting. She shared that Trump is adamant about implementing policies that would result in “no tax on seniors, Social Security, no tax on overtime pay.” Additionally, he expressed his desire to renew the tax cuts from the 2017 Tax Cuts and Jobs Act before they begin to expire later this year.
One of Trump’s focal points is adjusting the cap on State and Local Tax (SALT) deductions, which has been a contentious issue for Republicans in high-cost states. He also emphasized the importance of eliminating special tax breaks for billionaire sports team owners, closing the carried interest tax deduction loophole, and implementing tax cuts for products made in America.
Leavitt conveyed Trump’s commitment to delivering the largest tax cut in history for middle-class working Americans. The president is eager to collaborate with Congress to achieve this goal. The meeting with House Republicans comes as the lower chamber works on a one-bill budget plan that encompasses all of Trump’s agenda priorities, including border security and taxes.
The budget reconciliation process is expected to streamline the legislative process in the Senate, lowering the threshold for advancing a bill from 60 votes to 51. With a 53-vote majority in the Senate, Republicans are well-positioned to push through policies with only support from their party. While the House Republicans have yet to finalize their budget plan, the Senate GOP is taking the lead on advancing legislation.
Senate Budget Committee Chairman Lindsey Graham recently announced plans to move forward with a bill focusing on border security, defense, and energy, with taxes to be addressed in a second budget resolution later in the year. This strategy has the potential to overshadow the House Republicans’ efforts to spearhead a unified approach to the budget reconciliation process.
In the coming weeks, the focus will be on navigating the complexities of tax policy and budget negotiations to deliver on Trump’s promises to the American people. The collaboration between the president and House Republicans underscores the importance of working together to achieve meaningful tax reform that benefits the middle class and strengthens the economy.
