#crapo — Public Fediverse posts
Live and recent posts from across the Fediverse tagged #crapo, aggregated by home.social.
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The Senate Finance Committee’s version of the #BigBeautifullBill has been released, and it is pure #Crapo. https://www.huffingtonpost.co.uk/entry/senate-finance-committee-big-beautiful-bill_n_68508419e4b072f3c80de92f
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The Senate Finance Committee’s version of the #BigBeautifullBill has been released, and it is pure #Crapo. https://www.huffingtonpost.co.uk/entry/senate-finance-committee-big-beautiful-bill_n_68508419e4b072f3c80de92f
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The Senate Finance Committee’s version of the #BigBeautifullBill has been released, and it is pure #Crapo. https://www.huffingtonpost.co.uk/entry/senate-finance-committee-big-beautiful-bill_n_68508419e4b072f3c80de92f
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The Senate Finance Committee’s version of the #BigBeautifullBill has been released, and it is pure #Crapo. https://www.huffingtonpost.co.uk/entry/senate-finance-committee-big-beautiful-bill_n_68508419e4b072f3c80de92f
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The Senate Finance Committee’s version of the #BigBeautifullBill has been released, and it is pure #Crapo. https://www.huffingtonpost.co.uk/entry/senate-finance-committee-big-beautiful-bill_n_68508419e4b072f3c80de92f
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Donald Trump posted he would
"get #SALT back."That's a strong indication he wants to 🔸let those in high-tax states deduct more than $10,000 from their federal taxes
— a limit he championed in his 2017 Tax Cuts and Jobs Act.Republicans in blue states, especially in New York, have made repealing the SALT cap a calling card
and have been willing to challenge their Republican colleagues on it.Trump's new position might make it easier for them to return to Congress.
State of the play:
The $10,000 SALT cap expires at the end of 2025.
If Trump — or Harris — does nothing, wealthy taxpayers in high-tax states will be able to deduct an unlimited amount from their federal returns, lowering the overall tax bill.
The bottom line:
Removing the $10,000 SALT cap would cost an estimated $1.2 trillion over a decade, according to the Committee for a Responsible Federal Budget.
An estimated 92% of the benefit would go to the top 10% of earners, according to CRFB.
Trump's surprise post on SALT deductions Tuesday has forced Senate Republicans into a pickle: 🔸contradict their party's leader or their old positions.
For Republican leaders, it's a taste of what's to come if Trump wins back the White House.
They'll have to harmonize their own positions
— in real time
— with a president who is constantly changing his.Zoom in:
"We'll take a look at all the suggestions," Senate Minority Whip John Thune (R-S.D.), who is running for leader, told reporters, noting it "got litigated extensively in 2017."
"I don't think we ought to be subsidizing state taxes," Sen. #Rick #Scott (R-Fla.) told Axios repeatedly, adding Republicans need to win the House, Senate and White House first before there's a real discussion on what to do about SALT.
"I personally, at this point in time, believe we should extend the TCJA SALT provisions," said Sen. #Mike #Crapo (R-Idaho), the ranking Republican on the Finance Committee. "But like I said, everything's up for negotiations."
The other side:
The new Trump idea does have support from Majority Leader #Chuck #Schumer (D-N.Y.) who said he has "always been for eliminating the cap on SALT."
Schumer called the Trump tax bill "a nasty piece of legislation," which was "aimed at the blue states."
-
Donald Trump posted he would
"get #SALT back."That's a strong indication he wants to 🔸let those in high-tax states deduct more than $10,000 from their federal taxes
— a limit he championed in his 2017 Tax Cuts and Jobs Act.Republicans in blue states, especially in New York, have made repealing the SALT cap a calling card
and have been willing to challenge their Republican colleagues on it.Trump's new position might make it easier for them to return to Congress.
State of the play:
The $10,000 SALT cap expires at the end of 2025.
If Trump — or Harris — does nothing, wealthy taxpayers in high-tax states will be able to deduct an unlimited amount from their federal returns, lowering the overall tax bill.
The bottom line:
Removing the $10,000 SALT cap would cost an estimated $1.2 trillion over a decade, according to the Committee for a Responsible Federal Budget.
An estimated 92% of the benefit would go to the top 10% of earners, according to CRFB.
Trump's surprise post on SALT deductions Tuesday has forced Senate Republicans into a pickle: 🔸contradict their party's leader or their old positions.
For Republican leaders, it's a taste of what's to come if Trump wins back the White House.
They'll have to harmonize their own positions
— in real time
— with a president who is constantly changing his.Zoom in:
"We'll take a look at all the suggestions," Senate Minority Whip John Thune (R-S.D.), who is running for leader, told reporters, noting it "got litigated extensively in 2017."
"I don't think we ought to be subsidizing state taxes," Sen. #Rick #Scott (R-Fla.) told Axios repeatedly, adding Republicans need to win the House, Senate and White House first before there's a real discussion on what to do about SALT.
"I personally, at this point in time, believe we should extend the TCJA SALT provisions," said Sen. #Mike #Crapo (R-Idaho), the ranking Republican on the Finance Committee. "But like I said, everything's up for negotiations."
The other side:
The new Trump idea does have support from Majority Leader #Chuck #Schumer (D-N.Y.) who said he has "always been for eliminating the cap on SALT."
Schumer called the Trump tax bill "a nasty piece of legislation," which was "aimed at the blue states."
-
Donald Trump posted he would
"get #SALT back."That's a strong indication he wants to 🔸let those in high-tax states deduct more than $10,000 from their federal taxes
— a limit he championed in his 2017 Tax Cuts and Jobs Act.Republicans in blue states, especially in New York, have made repealing the SALT cap a calling card
and have been willing to challenge their Republican colleagues on it.Trump's new position might make it easier for them to return to Congress.
State of the play:
The $10,000 SALT cap expires at the end of 2025.
If Trump — or Harris — does nothing, wealthy taxpayers in high-tax states will be able to deduct an unlimited amount from their federal returns, lowering the overall tax bill.
The bottom line:
Removing the $10,000 SALT cap would cost an estimated $1.2 trillion over a decade, according to the Committee for a Responsible Federal Budget.
An estimated 92% of the benefit would go to the top 10% of earners, according to CRFB.
Trump's surprise post on SALT deductions Tuesday has forced Senate Republicans into a pickle: 🔸contradict their party's leader or their old positions.
For Republican leaders, it's a taste of what's to come if Trump wins back the White House.
They'll have to harmonize their own positions
— in real time
— with a president who is constantly changing his.Zoom in:
"We'll take a look at all the suggestions," Senate Minority Whip John Thune (R-S.D.), who is running for leader, told reporters, noting it "got litigated extensively in 2017."
"I don't think we ought to be subsidizing state taxes," Sen. #Rick #Scott (R-Fla.) told Axios repeatedly, adding Republicans need to win the House, Senate and White House first before there's a real discussion on what to do about SALT.
"I personally, at this point in time, believe we should extend the TCJA SALT provisions," said Sen. #Mike #Crapo (R-Idaho), the ranking Republican on the Finance Committee. "But like I said, everything's up for negotiations."
The other side:
The new Trump idea does have support from Majority Leader #Chuck #Schumer (D-N.Y.) who said he has "always been for eliminating the cap on SALT."
Schumer called the Trump tax bill "a nasty piece of legislation," which was "aimed at the blue states."
-
Donald Trump posted he would
"get #SALT back."That's a strong indication he wants to 🔸let those in high-tax states deduct more than $10,000 from their federal taxes
— a limit he championed in his 2017 Tax Cuts and Jobs Act.Republicans in blue states, especially in New York, have made repealing the SALT cap a calling card
and have been willing to challenge their Republican colleagues on it.Trump's new position might make it easier for them to return to Congress.
State of the play:
The $10,000 SALT cap expires at the end of 2025.
If Trump — or Harris — does nothing, wealthy taxpayers in high-tax states will be able to deduct an unlimited amount from their federal returns, lowering the overall tax bill.
The bottom line:
Removing the $10,000 SALT cap would cost an estimated $1.2 trillion over a decade, according to the Committee for a Responsible Federal Budget.
An estimated 92% of the benefit would go to the top 10% of earners, according to CRFB.
Trump's surprise post on SALT deductions Tuesday has forced Senate Republicans into a pickle: 🔸contradict their party's leader or their old positions.
For Republican leaders, it's a taste of what's to come if Trump wins back the White House.
They'll have to harmonize their own positions
— in real time
— with a president who is constantly changing his.Zoom in:
"We'll take a look at all the suggestions," Senate Minority Whip John Thune (R-S.D.), who is running for leader, told reporters, noting it "got litigated extensively in 2017."
"I don't think we ought to be subsidizing state taxes," Sen. #Rick #Scott (R-Fla.) told Axios repeatedly, adding Republicans need to win the House, Senate and White House first before there's a real discussion on what to do about SALT.
"I personally, at this point in time, believe we should extend the TCJA SALT provisions," said Sen. #Mike #Crapo (R-Idaho), the ranking Republican on the Finance Committee. "But like I said, everything's up for negotiations."
The other side:
The new Trump idea does have support from Majority Leader #Chuck #Schumer (D-N.Y.) who said he has "always been for eliminating the cap on SALT."
Schumer called the Trump tax bill "a nasty piece of legislation," which was "aimed at the blue states."
-
Donald Trump posted he would
"get #SALT back."That's a strong indication he wants to 🔸let those in high-tax states deduct more than $10,000 from their federal taxes
— a limit he championed in his 2017 Tax Cuts and Jobs Act.Republicans in blue states, especially in New York, have made repealing the SALT cap a calling card
and have been willing to challenge their Republican colleagues on it.Trump's new position might make it easier for them to return to Congress.
State of the play:
The $10,000 SALT cap expires at the end of 2025.
If Trump — or Harris — does nothing, wealthy taxpayers in high-tax states will be able to deduct an unlimited amount from their federal returns, lowering the overall tax bill.
The bottom line:
Removing the $10,000 SALT cap would cost an estimated $1.2 trillion over a decade, according to the Committee for a Responsible Federal Budget.
An estimated 92% of the benefit would go to the top 10% of earners, according to CRFB.
Trump's surprise post on SALT deductions Tuesday has forced Senate Republicans into a pickle: 🔸contradict their party's leader or their old positions.
For Republican leaders, it's a taste of what's to come if Trump wins back the White House.
They'll have to harmonize their own positions
— in real time
— with a president who is constantly changing his.Zoom in:
"We'll take a look at all the suggestions," Senate Minority Whip John Thune (R-S.D.), who is running for leader, told reporters, noting it "got litigated extensively in 2017."
"I don't think we ought to be subsidizing state taxes," Sen. #Rick #Scott (R-Fla.) told Axios repeatedly, adding Republicans need to win the House, Senate and White House first before there's a real discussion on what to do about SALT.
"I personally, at this point in time, believe we should extend the TCJA SALT provisions," said Sen. #Mike #Crapo (R-Idaho), the ranking Republican on the Finance Committee. "But like I said, everything's up for negotiations."
The other side:
The new Trump idea does have support from Majority Leader #Chuck #Schumer (D-N.Y.) who said he has "always been for eliminating the cap on SALT."
Schumer called the Trump tax bill "a nasty piece of legislation," which was "aimed at the blue states."
-
Who can bankroll enough lobbying to actually change federal law?
Banks. $400M+ in 2 years:
"the banking lobby worked for two years to water down aspects of the 2010 Dodd-Frank law...with companies and trade groups that specifically mention Idaho Senator Mike Crapo’s legislation spending more than $400 million in 2017 and 2018, according to an Associated Press analysis of the public lobbying disclosures"
https://apnews.com/article/banking-crisis-congress-lobbying-svb-c2bc00ad41ae7fd1ec9d0ffb781383f2
--
#Congress #corruption #banking #finance #DoddFrank #crapo -
Who can bankroll enough lobbying to actually change federal law?
Banks. $400M+ in 2 years:
"the banking lobby worked for two years to water down aspects of the 2010 Dodd-Frank law...with companies and trade groups that specifically mention Idaho Senator Mike Crapo’s legislation spending more than $400 million in 2017 and 2018, according to an Associated Press analysis of the public lobbying disclosures"
https://apnews.com/article/banking-crisis-congress-lobbying-svb-c2bc00ad41ae7fd1ec9d0ffb781383f2
--
#Congress #corruption #banking #finance #DoddFrank #crapo -
Who can bankroll enough lobbying to actually change federal law?
Banks. $400M+ in 2 years:
"the banking lobby worked for two years to water down aspects of the 2010 Dodd-Frank law...with companies and trade groups that specifically mention Idaho Senator Mike Crapo’s legislation spending more than $400 million in 2017 and 2018, according to an Associated Press analysis of the public lobbying disclosures"
https://apnews.com/article/banking-crisis-congress-lobbying-svb-c2bc00ad41ae7fd1ec9d0ffb781383f2
--
#Congress #corruption #banking #finance #DoddFrank #crapo -
Who can bankroll enough lobbying to actually change federal law?
Banks. $400M+ in 2 years:
"the banking lobby worked for two years to water down aspects of the 2010 Dodd-Frank law...with companies and trade groups that specifically mention Idaho Senator Mike Crapo’s legislation spending more than $400 million in 2017 and 2018, according to an Associated Press analysis of the public lobbying disclosures"
https://apnews.com/article/banking-crisis-congress-lobbying-svb-c2bc00ad41ae7fd1ec9d0ffb781383f2
--
#Congress #corruption #banking #finance #DoddFrank #crapo -
Who can bankroll enough lobbying to actually change federal law?
Banks. $400M+ in 2 years:
"the banking lobby worked for two years to water down aspects of the 2010 Dodd-Frank law...with companies and trade groups that specifically mention Idaho Senator Mike Crapo’s legislation spending more than $400 million in 2017 and 2018, according to an Associated Press analysis of the public lobbying disclosures"
https://apnews.com/article/banking-crisis-congress-lobbying-svb-c2bc00ad41ae7fd1ec9d0ffb781383f2
--
#Congress #corruption #banking #finance #DoddFrank #crapo
