Close Menu
Influential MagazineInfluential Magazine
  • Home
  • Latest News
  • Entrepreneurs
  • Business
  • Finance
  • Leadership
  • More
    • Web Stories
    • Editor’s Picks
    • Press Release

Subscribe to Updates

Get the latest business and finance news for entrepreneurs all around the world.

What's Hot
16 Mayors on What It’s Like to Run a U.S. City Now Under Trump

16 Mayors on What It’s Like to Run a U.S. City Now Under Trump

July 3, 2025
See How Trump’s Big Bill Could Affect Your Taxes, Health Care and Other Finances

See How Trump’s Big Bill Could Affect Your Taxes, Health Care and Other Finances

July 3, 2025
How Health Care Remade the U.S. Economy

How Health Care Remade the U.S. Economy

July 3, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) Instagram
Influential MagazineInfluential Magazine
SUBSCRIBE
  • Home
  • Latest News
  • Entrepreneurs
  • Business
  • Finance
  • Leadership
  • More
    • Web Stories
    • Editor’s Picks
    • Press Release
Influential MagazineInfluential Magazine
Home » Republican Agenda Hits Familiar Obstacle: State and Local Taxes

Republican Agenda Hits Familiar Obstacle: State and Local Taxes

May 9, 20252 Mins Read Business
Republican Agenda Hits Familiar Obstacle: State and Local Taxes
Share
Facebook Twitter Reddit Telegram Pinterest Email

Gerhard Randers-Pehrson, an 81-year-old resident of Ossining, N.Y., believes the $10,000 cap should go up — but not too much. While Mr. Randers-Pehrson, a retired research scientist, said he paid $16,000 in state and local taxes last year, he does not expect to personally benefit from a higher cap. He would take the standard deduction instead of itemizing. But the issue still bothers him.

“I don’t think we should punish areas that try to do right by the municipal services they provide,” he said. His congressman, Representative Mike Lawler, a Republican and one of the holdouts on the issue, has proposed lifting the cap to $100,000 for individuals and $200,000 for married couples. Mr. Randers-Perhson believes such an increase would be too high.

Even among Republicans who want to raise the limit, agreeing on a demand has been a challenge.

Representative Jeff Van Drew, Republican of New Jersey, has said that a cap around $30,000 or $40,000 would be acceptable, while a group of four New York Republicans put out a statement on Thursday calling a $30,000 cap “insulting.” Representative Young Kim, Republican of California, recently floated a $62,000 deduction per individual. Representative Nicole Malliotakis, a New York Republican on the Ways and Means Committee, meanwhile, has suggested that Americans under a certain income limit should be able to take the full deduction.

“I was always focused on people that I represent in Staten Island and Brooklyn, who mostly all make under $500,000,” she said.

House Republican leaders remain optimistic they can thread the needle. Beyond SALT, they are also grappling with a last-minute push from Mr. Trump to raise taxes on the rich, though the president appeared to again back away from that idea in a social media post on Friday. “Republicans should probably not do it, but I’m OK if they do!” the president wrote.

Deductions and Exemptions House of Representatives Law and Legislation Republican Party States (US) Tax Credits Taxation United States Politics and Government
Share. Facebook Twitter Pinterest LinkedIn Telegram Reddit Email
Previous ArticleU.S. automakers say Trump’s trade deal with Britain gives foreign companies a leg up.
Next Article Robert A.G. Monks, Crusader Against ‘Imperial’ C.E.O.s, Dies at 91

Related Posts

16 Mayors on What It’s Like to Run a U.S. City Now Under Trump

16 Mayors on What It’s Like to Run a U.S. City Now Under Trump

July 3, 2025
See How Trump’s Big Bill Could Affect Your Taxes, Health Care and Other Finances

See How Trump’s Big Bill Could Affect Your Taxes, Health Care and Other Finances

July 3, 2025
How Health Care Remade the U.S. Economy

How Health Care Remade the U.S. Economy

July 3, 2025
What We Know (and Can’t Know) About Trump’s Wealth

What We Know (and Can’t Know) About Trump’s Wealth

July 2, 2025
There’s a Race to Power the Future. China Is Pulling Away.

There’s a Race to Power the Future. China Is Pulling Away.

June 30, 2025
A.I. Videos Have Never Been Better. Can You Tell What’s Real?

A.I. Videos Have Never Been Better. Can You Tell What’s Real?

June 29, 2025
Add A Comment

Leave A Reply Cancel Reply

Demo
Stay In Touch
  • Facebook
  • Twitter
  • Pinterest
  • Instagram
  • YouTube
  • Vimeo
Don't Miss
16 Mayors on What It’s Like to Run a U.S. City Now Under Trump

16 Mayors on What It’s Like to Run a U.S. City Now Under Trump

By News RoomJuly 3, 2025

It is no ordinary time to lead a city. Budgets are in flux. Divisions are…

See How Trump’s Big Bill Could Affect Your Taxes, Health Care and Other Finances

See How Trump’s Big Bill Could Affect Your Taxes, Health Care and Other Finances

July 3, 2025
How Health Care Remade the U.S. Economy

How Health Care Remade the U.S. Economy

July 3, 2025
What We Know (and Can’t Know) About Trump’s Wealth

What We Know (and Can’t Know) About Trump’s Wealth

July 2, 2025

Subscribe to Updates

Get the latest business and finance news for entrepreneurs all around the world.

About Us
About Us

Influential Magazine is one of the top news portals about Business and Finance news for Entrepreneurs and leaders all around the world, follow us for more intersting articles and news.

Our Picks
What We Know (and Can’t Know) About Trump’s Wealth

What We Know (and Can’t Know) About Trump’s Wealth

July 2, 2025
UK Betting Platform Headed by James Atkinson Reports Record £50 Million Profit

UK Betting Platform Headed by James Atkinson Reports Record £50 Million Profit

July 1, 2025
There’s a Race to Power the Future. China Is Pulling Away.

There’s a Race to Power the Future. China Is Pulling Away.

June 30, 2025
Trending Now
A.I. Computing Power Is Splitting the World Into Haves and Have-Nots

A.I. Computing Power Is Splitting the World Into Haves and Have-Nots

June 23, 2025
What Caused the Air India Plane Crash? Here’s What Investigators Are Examining.

What Caused the Air India Plane Crash? Here’s What Investigators Are Examining.

June 14, 2025
Musk Called Trump Privately Before Posting Message of ‘Regret’

Musk Called Trump Privately Before Posting Message of ‘Regret’

June 11, 2025
Influential Magazine
Facebook X (Twitter) Instagram LinkedIn
  • Home
  • Privacy Policy
  • Contact
  • Terms & Conditions
© 2025 Influential Mag. All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.