HILL TAX BRIEFING: GOP Debates SALT As Bipartisan Talks Simmer

With the weeks-long House speaker search over, Republicans are hoping to find a breakthrough on the state and local tax deduction cap so they can move forward on tax legislation.

Newly elected Speaker Mike Johnson (R-La.) is set to convene a meeting to hear from supporters of raising the $10,000 deduction cap in the next few weeks, Rep. Anthony D’Esposito (R-N.Y.) told Bloomberg Tax. There, Johnson and Ways and Means Chair Jason Smith (R-Mo.) will get a pitch from some members who want a cap increase to be included in the House Republicans’ tax package, D’Esposito said.

“If we saw ...