House GOP Debate Tax Bill, Trump Visits Saudi Arabia

Watch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.

President Donald Trump’s campaign tax pledges — no taxes on tips and overtime pay, plus new tax breaks for car buyers and seniors — are the centerpiece of a multitrillion dollar package that will serve as Republicans’ signature legislative effort.

In a draft version of the tax bill released on Monday, House Republicans highlighted the president’s populist priorities in a package that would enact those cuts through 2028. The bill would also make the lower individual tax rates Trump signed in 2017 permanent.

The bill addressed a tax issue that has been dividing lawmakers since it was first restricted by Trump in 2017: the $10,000 cap on the state and local tax deduction. The plan raises the SALT limit to $30,000, but with limits for individuals earning more than $200,000 or couples making twice that. 

Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Kailey speaks with:

• Spokesman for the Alliance for Competitive Taxation and Former Chair of the House Ways and Means Committee Kevin Brady.
• Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino.
• Bloomberg's David Gura following his interview with Former US Ambassador to China Nicholas Burns.
• Groundwork Collaborative Senior Fellow Kitty Richards.
• Democratic Candidate for US Senate in Michigan Abdul El-Sayed.

See omnystudio.com/listener for privacy information.