The Senate Finance Committee might play fill-in-the-blanks for a key tax deduction when it releases its portion of the GOP’s megabill in the coming days, according to Sen. Markwayne Mullin.
The Oklahoma Republican told reporters precise parameters for the state-and-local-tax deduction could simply be left out of the package while negotiations continue. “Senator Crapo and I had a long conversation about it,” Mullin said, referring to sensitive talks between Finance Chair Mike Crapo (R-Idaho) and a group of blue-state House Republicans who are adamant about protecting the $40,000 SALT cap in the House-passed bill.
“Maybe it’d be better to just carry communication rather than stake our flag right down,” he added.
Mullin has been a key bridge between House and Senate Republicans as the sweeping party-line domestic policy legislation comes together. He was actively negotiating with one hardcore SALT Republican, Rep. Mike Lawler (R-N.Y.), on Thursday. One option Mullin laid out would be to lower the $40,000 cap; another would be lowering the $500,000 income threshold where the deduction phases out.
Some senators have indicated the Finance Committee text will be released Friday; others have said it will be out Monday.
“I take them very seriously that they are wanting to negotiate on this thing, and we’re going to,” Mullin said about his talks with Lawler and allies. “We’re having good conversations.”
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