US businesses and wealthy universities scored major wins in the Senate Republicans’ version of President Donald Trump’s tax bill, while low-income Americans and clean energy providers are poised to be hit the hardest.

Blue state House Republicans warn Senate GOP against removing SALT deduction increase from tax bill, with Rep. Mike Lawler declaring any such move 'dead on arrival' as negotiations continue.

The proposal calls for "permanently" extending the $10,000 cap on so-called SALT deductions, first passed by Congress in 2017 and signed into law by President Donald Trump during his first term. Before 2017, there was no limit on the amount of state and local tax deductions a homeowner could write off when filing their federal income taxes.

A fresh Republican rift over taxes burst into public view Monday, as New York House Republicans slammed Senate GOP leaders for reportedly backing a plan to preserve the $10,000 cap on state and local tax deductions.

The SALT cap has been perhaps the most vexing policy consideration for the Senate’s GOP tax writers. The current $10,000 SALT cap was imposed as part of President Donald Trump’s 2017 tax cuts. Now, Republican House members in high-tax states have enough leverage to raise that threshold.

Big, Beautiful Bill timeline in jeopardy as Senate vote delays to June 22, leaving a tight window for House approval before the Treasury's early July debt ceiling deadline

The Senate Finance Committee unveils its proposed changes to the House-passed version of President Donald Trump's "big, beautiful bill," which could put the two chambers on collision course.