Bloomberg Talks Former US Chief of Staff for Mike Pence Marc Short Talks Tax Bill
Jun 25, 2025
Marc Short, former Chief of Staff for Mike Pence, shares insights from his pivotal role in passing the tax bill during Trump’s presidency. He discusses the current landscape of tax negotiations, particularly the contentious SALT provisions affecting taxpayers in blue states. Short critiques the unequal benefits in the tax system and emphasizes the need for fiscal responsibility. He also contrasts the foreign policy approaches of the Biden and Trump administrations, addressing implications of potential isolationism on global relationships.
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Tax Increase Threat Unites GOP
- The threat of a $2.5 trillion tax increase unites Republicans against the bill.
- Despite noise on Medicaid and SALT, sufficient votes will likely pass the bill.
SALT Deductions Favor Blue States
- SALT deductions largely help wealthy taxpayers in poorly managed blue states with high taxes.
- The real estate lobby pushes to restore higher deductions due to fewer taxpayers itemizing now.
Blue States Versus Federal Spending
- New York contributes about 8% of U.S. GDP but receives less federal funding in return.
- There is an argument that some blue states get cheated by federal spending allocation.