Trump Sets July 4th Deadline for SALT Tax Bill Amid Negotiations

President TRUMP has demanded the SALT tax bill reach his desk by July 4th, urging the House of Representatives to act swiftly. "The House must be ready to send it to my desk before July 4th — we can get it done," he declared on Truth Social. This comes hours after he suggested flexibility if negotiations require more time.

Bessent, signaling progress, stated a deal is imminent after discussions with "SALT Republicans" at the Treasury. The compromise aims to balance voter benefits in high-tax districts with fairness for all Americans. Lawmakers from New York, New Jersey, and California push to raise the deduction cap to $40,000, a sticking point that could derail the bill in the narrowly divided House.

Negotiators now align on maintaining the higher cap, though senators propose trimming other provisions, such as income cutoffs. The outcome hinges on whether dissenters relent or sink the bill entirely.