Bloomberg Talks Rep. Mike Lawler Talks SALT Cap, Trump Meeting
Jan 8, 2025
Mike Lawler, a Congressman from New York, advocates for expanding SALT tax deductions which greatly affect high-tax state residents. He shares insights from his visit to Mar-a-Lago and discusses the urgency of negotiating tax relief amidst New York's budget crisis. The challenges of the SALT cap, rising state budgets, and potential taxpayer migration are key concerns. Lawler emphasizes the need for pragmatic discussions on energy tax credits, U.S. debt, and economic strategy to ensure growth and support for hardworking Americans.
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SALT Cap Impact
- Rep. Lawler emphasizes the impact of the SALT cap on high-tax states like New York, New Jersey, and California.
- He highlights New York's significant contributions to the federal government, exceeding what it receives.
One Big Bill
- Rep. Lawler points out that states like South Carolina, which oppose SALT cap relief, receive more federal funds than New York.
- He advocates for a single, comprehensive bill to address taxes, border security, energy, and debt, emphasizing the need for everyone's vote.
Negotiation and Compromise
- Lawler emphasizes the necessity of good-faith negotiation and compromise among Republicans to pass a reconciliation bill.
- He acknowledges that no one will get everything they want, but cooperation is essential for success.