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Rep. Josh Gottheimer on Problem Solvers Caucus' bipartisan infrastructure proposal
  + stars: | 2021-06-14 | by ( ) www.cnbc.com sentiment -0.98   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Josh Gottheimer on Problem Solvers Caucus' bipartisan infrastructure proposalThe House bipartisan Problem Solvers Caucus has put together a $1.5 trillion infrastructure spending framework to help salvage faltering negotiations. Rep. Josh Gottheimer (D-NJ) is co-chair of the committee and he joined "Squawk Box" on Monday to discuss the proposal.
Persons: Josh Gottheimer
WASHINGTON — A dozen House Democrats publicly criticized their colleague Rep. Ilhan Omar, D-Minn., late Wednesday, accusing her of giving "cover" to terrorist and suggesting her remarks about Hamas and the Taliban reflect a "deep-seated prejudice." “Equating the United States and Israel to Hamas and the Taliban is as offensive as it is misguided,” the group, led by Rep. Brad Schneider, of Illinois, said in a statement, urging Omar to "clarify" her remarks. Omar responded to her critics by calling their statement "offensive" and defending her initial remarks. We have seen unthinkable atrocities committed by the U.S., Hamas, Israel, Afghanistan, and the Taliban,” she wrote on Twitter, echoing her remarks on the video. In a follow-up tweet, Omar defend her initial remarks: “Citing an open case against Israel, US, Hamas & Taliban in the [The International Criminal Court] isn’t comparison or from 'deeply seated prejudice'.
Persons: WASHINGTON, Ilhan Omar, Brad Schneider, Omar, , Antony Blinken, Jake Auchincloss, Ted Deutch, Lois Frankel, Josh Gottheimer, Elaine Luria, Kathy Manning, Jerry Nadler, Dean Phillips, Kim Schrier, Brad Sherman, Debbie Wasserman Schultz Organizations: House, Rep, Twitter, Hamas, Taliban Locations: United States, Israel, Illinois, U.S, Afghanistan, US, Massachusetts, Florida, New Jersey, Virginia, North Carolina, New York, Minnesota, Washington, California
A Democratic member of the group, Senator Jon Tester, said he would be willing to look at funding an infrastructure plan without raising taxes though he was not committed to that approach. Cassidy, who spoke to Biden about infrastructure by phone on Tuesday, predicted that any plan containing tax hikes would not receive enough Republican support to pass the Senate. Republicans have shown no appetite for tax increases, having strongly backed a 2017 tax cut law signed by former President Donald Trump. Separately, a bipartisan group of 58 House lawmakers led by Representatives Josh Gottheimer and Brian Fitzpatrick known as the Problem Solvers Caucus released a $1.2 trillion infrastructure framework. The caucus has been working with the bipartisan group of senators, a source familiar with the negotiations said.
Persons: Mitt Romney, Evelyn Hockstein, Joe Biden's, Biden, Romney, Jon Tester, Tester, Rob Portman, Bill Cassidy, Susan Collins, Lisa Murkowski, Kyrsten Sinema, Joe Manchin, Mark Warner, Jeanne Shaheen, Sherrod Brown, Brown, you'd, it's, Cassidy, Kamala Harris, Donald Trump, Portman, Shelley Moore Capito, Josh Gottheimer, Brian Fitzpatrick Organizations: U.S, Capitol, REUTERS, Democratic, Banking, Biden, Republicans, COVID, U.S . Treasury, Republican, Thomson Locations: Washington , U.S, U.S
Live Live Updates: Biden Revokes and Replaces Trump’s Order Seeking TikTok Ban The Trump administration fought to ban TikTok and force its Chinese-owned parent company, ByteDance, to sell the app. Biden revokes and replaces Trump’s executive order that sought to ban TikTok. President Biden is set to revoke a Trump-era executive order that sought to ban TikTok from U.S. app stores. After Google resisted complying, the Justice Department under Mr. Biden kept the effort going until dropping it last Wednesday. President Biden is set to leave for Europe on Air Force One, but the press plane that will accompany him ran into delays.
Persons: Biden, Trump, Biden revokes, Narinder Nanu, Donald J, TikTok, Biden’s, ByteDance, Doug Mills, Vladimir V, Putin, , Barry Pavel, “ They’ve, Michael D, Zack DeZon, General Merrick B, Garland, CNN —, , Dean Baquet, DeVonta Smith, Brad Stewart Jr, Kevin C, Cox, , Stefani Reynolds, Jacquelyn Martin, Shelley Moore Capito, Josh Gottheimer, Brian Fitzpatrick, Rob Portman, Kyrsten Sinema, can’t, Pramila Jayapal, Val Demings, Rubio, Greg Nash, Marco Rubio, Stater, Demings, Trump’s, Bill Nelson, Mr, Nancy Pelosi, you’re, Stephanie Murphy, Alan Grayson, Ron DeSantis, DeSantis, Charlie Crist, Nikki Fried, Rick Scott, Patrick Murphy, Marco ”, Julien Neals, Kevin Lamarque, Julien Xavier Neals, Regina M, Rodriguez, Tom Williams, Chuck Schumer, “ We’re, Ketanji Brown Jackson, Mitch McConnell of, Xi, Schumer, Todd Young, Young, Republicans filibustered, Mitch McConnell, Stacey Abrams, Diwang Valdez, The New York Times Stacey Abrams, Abrams’s, Ms, Abrams, Joe Manchin III, Brian Kemp, Kemp, Katie Hobbs, Jason Frierson Organizations: Washington, Trump, Credit, Getty, Foreign Investment, Commerce Department, The New York Times, United, Oracle, ., New York Times, NATO, European Union, Republican Party, Scowcroft Center, Strategy, The Atlantic Council, Midtown Manhattan ., The New York, Justice Department, The Times, Washington Post, CNN, Biden Justice Department, Post, Google, Trump Justice Department, Department, Mr, Southeastern Conference, Senate, Air Force, Europe, , Republicans, Democrats, Associated Press, Republican, House Progressive Caucus, Democratic, Florida Democrat, Fox News, Florida Democrats, Gov, Democrat, Federal, Court, District, Circuit, Supreme, Biden White House, Capitol, U.S . Innovation, China, Georgia Democratic, CBS News, Nevada Assembly, Democratic Party, Black Voters, Washington , D.C, Civil Rights Movement Locations: AFP, China, United States, Europe, American, Russia, Washington, America, Britain, Geneva, NATO, Midtown Manhattan, Alabama, Florida, Atlanta . Alabama, Georgia, , New York, Cleveland, West Virginia, New Jersey, Pennsylvania, Ohio, Arizona, Democratic Florida, Orlando, Jacksonville, North Korea, U.S, Colorado, Mitch McConnell of Kentucky, Beijing, Indiana, China’s Xinjiang, Kentucky, Texas, New Hampshire, Michigan, Nevada, New Orleans, Washington ,
Live Live Updates: CNN Says Government Issued Gag Order in Fight Over Reporter’s Email Data The network ultimately turned over “a limited set of email logs,” it said. CNN reveals the government obtained a gag order on its lawyers in a fight over reporter email data. A judge granted an injunction of the Trump order, giving TikTok a lifeline until November. President Biden and the first lady, Jill Biden, on Wednesday shortly before the president’s first trip abroad. After Google resisted complying, the Justice Department under Mr. Biden kept the effort going until dropping it last Wednesday.
Persons: Biden, Jeff Zucker, John Lamparski, , Trump, General Merrick B, Garland, Biden revokes, Narinder Nanu, Donald J, TikTok, , , Brian J, Fleming, James Lewis, ” Mr, Lewis, Biden’s, ByteDance, Katie Rogers, Josh Gottheimer, Jacquelyn Martin, Shelley Moore Capito, Brian Fitzpatrick, Rob Portman, Kyrsten Sinema, can’t, Pramila Jayapal, Jill Biden, Tom Brenner, I’ll, Albert Bourla, Jeffrey D, Zients, Mr, ” Edwin Ikhouria, Tedros Adhanom Ghebreyesus, Sharon LaFraniere, Sheryl Gay Stolberg, Noah Weiland, Doug Mills, Vladimir V, Putin, Barry Pavel, “ They’ve, Michael D, Val Demings, Rubio, Greg Nash, Marco Rubio, Stater, Demings, Trump’s, Bill Nelson, Democrat ”, Stephanie Murphy, Alan Grayson, Ron DeSantis, DeSantis, Charlie Crist, Nikki Fried, Rick Scott, Patrick Murphy, Marco ”, Mary Barra, Obama, Rebecca Cook, , Barra, Michael S, Regan, G.M, Nick Conger, Charlie Riedel, Barack Obama’s, Zack DeZon, CNN —, Dean Baquet, Kevin C, Cox Organizations: CNN, Trump, TikTok, Justice Department, The New York Times, The Justice, Times, The Washington Post, Monday, Credit, Getty, Tencent, Oracle, Walmart, Center for Strategic, International Studies, United, Foreign Investment, ., Associated Press, Republican, Republicans, Democrats, House Progressive Caucus, Pfizer, White, BioNTech, Air Force, Covid, Health, West Bank, Trade Organization’s Council for Trade, ONE, World Health Organization, New York Times, NATO, European Union, Republican Party, Scowcroft Center, Strategy, The Atlantic Council, Democratic, Florida Democrat, Democrat, Florida Democrats, Gov, General Motors, Reuters, Motors, Wednesday, Environmental Protection Agency, Honda, Ford, Volkswagen, BMW, Volvo, North Dakota . Credit, Associated, Midtown Manhattan ., The New York, The Times, Washington Post, Biden Justice Department, Post, Google, Trump Justice Department, Department, Mr, N.C.A.A, Senate Locations: AFP, China, TikTok, U.S, United States, New Jersey, West Virginia, Pennsylvania, Ohio, Arizona, Washington, Cornwall, England, States, America, Caribbean, Latin America, South, Southeast Asia, Africa, Gaza, India, Europe, American, Russia, Britain, Geneva, NATO, Democratic Florida, Florida, Orlando, Jacksonville, North Korea, Michigan, California, North Dakota, Midtown Manhattan, , , Alabama, Georgia
Weeks of negotiations between the White House and Republicans failed to bring the two parties close to a deal. A White House official said they asked Republicans whether they could raise their offer by a significant amount, and they couldn’t. The White House is reviewing another bipartisan proposal from the House Problem Solvers Caucus, according to a source familiar with discussions. But questions persist about the viability of a bipartisan infrastructure plan. The bill is just one part of $4 trillion in infrastructure spending Democrats want but is expected to be the base of the House's infrastructure bill.
Persons: Joe Biden's, Republican Sen, Shelley Moore Capito, Weeks, Chuck Schumer, Sen, Kyrsten Sinema, Rob Portman, Schumer, we're, Biden, Capito, Bernie Sanders, we've, Sanders, Bill Cassidy of, We're, Jen Psaki, Portman, Cassidy, Mitt Romney, Joe Manchin, Romney, Josh Gottheimer, Brian Fitzpatrick, Brian Deese, John Barrasso, Mitch McConnell’s, Joe Manchin’s, Sean McElwee Organizations: WASHINGTON, Republican, White House, White, Republicans, NBC News, American Jobs, Penn, Transportation, Infrastructure, Democrats, Senate Locations: West Virginia, Ohio, Bill Cassidy of Louisiana, R, Utah, Wyoming, Washington
Rep. Gottheimer on addressing SALT deductions while negotiating infrastructure
  + stars: | 2021-06-04 | by ( ) www.cnbc.com sentiment -0.93   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Gottheimer on addressing SALT deductions while negotiating infrastructureRep. Josh Gottheimer (D-NJ) joined "Squawk Box" on Friday to discuss what he would like to see happen when it comes to a bipartisan solution to infrastructure.
Persons: Josh Gottheimer
Rep. Josh Gottheimer: SALT deductions help the middle class
  + stars: | 2021-05-14 | by ( ) www.cnbc.com sentiment -0.92   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRep. Josh Gottheimer: SALT deductions help the middle classRep. James Comer (R-Ky.) and Rep. Josh Gottheimer (D-NJ) joined "Squawk Box" on Friday to discuss the debate between Democrats and Republicans over SALT deductions.
Persons: Josh Gottheimer, James Comer Organizations: Republicans Locations: Ky
Police-Overhaul Efforts Draws Bipartisan Agreement on Key Issues
  + stars: | 2021-05-07 | by ( Sadie Gurman | Eliza Collins | ) www.wsj.com sentiment -0.98   time to read: +2 min
Final language on those measures that would be incorporated in a compromise bill between lawmakers from both sides hasn’t yet been set. And central issues concerning the prosecution and liability of individual police officers remain to be resolved, the people said. President Biden has called on Congress to pass legislation in the coming weeks, ahead of the one-year anniversary of Mr. Floyd’s death on May 25. The congressional effort is being led by Sen. Tim Scott (R., S.C.), who sponsored a GOP bill, and Rep. Karen Bass (D., Calif.), who sponsored a Democratic bill, as well as Sen. Cory Booker (D., N.J.). They, along with Sens Lindsey Graham (R., S.C.) and Dick Durbin (D., Ill.) and Reps. Josh Gottheimer (D., N.J.), Brian Fitzpatrick (R., Pa.) and Pete Stauber (R., Minn.), are seeking to find compromise legislation that can pass both chambers.
Persons: George Floyd’s, Biden, Floyd’s, Sen, Tim Scott, Karen Bass, Cory Booker, Sens Lindsey Graham, Dick Durbin, Josh Gottheimer, Brian Fitzpatrick, Pete Stauber Organizations: WASHINGTON — Democratic, Republican, GOP, Democratic, Defense Department, Police Locations: Minneapolis, Calif, N.J, Sens, Pa, Minn
New York Governor Andrew Cuomo speaks to the media at a news conference in Manhattan on May 5, 2021 in New York City. Andrew Cuomo is privately encouraging some of the state's wealthiest business leaders to remain in the Empire State and lobby lawmakers to remove the federal cap on state and local tax deductions, known as SALT. Some Democrats, including Cuomo, are calling on the White House to remove the $10,000 cap Trump imposed on SALT deductions as part of any changes. "Repealing SALT would lower the effective tax rate on the state's top earners by 37%," Cuomo said in April. "The state's new, top 10.9% tax rate becomes an effective 6.9% tax rate," he explained.
Persons: Andrew Cuomo, Cuomo, Biden, Donald Trump's, reelect Cuomo, Joe Biden, Chuck Schumer, Tom Suozzi, Josh Gottheimer, Jen Psaki Organizations: New, New York City . New York Gov, Empire State, Trump, Yorkers, CNBC, Big Apple, Siena College Research, Partnership, Democratic, White House Press Locations: Manhattan, New York City ., Wall, New York, Cuomo , New York, California, Florida, New Jersey, New York City
JERUSALEM — At least four U.S. citizens were among those dead after a stampede on the slopes of Israel's Mount Meron, a spokesman for the country's Ministry of Foreign Affairs said Saturday, as funeral preparations began. At least 45 people died and more than 100 were injured in the stampede at around 1 a.m. local time Friday (8 p.m. ET Thursday) that occurred during celebrations of Lag BaOmer at Mount Meron in northern Israel, by the tomb of an ancient Jewish mystic, Rabbi Shimon bar Yochai. Israeli security officials and rescuers stand around the bodies of victims who died during Lag BaOmer celebrations at Mount Meron in northern Israel on Friday. The event was the first mass religious gathering to be held legally since Israel lifted nearly all restrictions related to the coronavirus pandemic.
Persons: Israel's Mount Meron, Lior Haiat, Haiat, we're, Rabbi Shimon, Yochai, Ishay, Josh Gottheimer, Donny Morris, Rabbi Yechiel Morris, Joe Biden, Benjamin Netanyahu, Meron, Biden, Justin Trudeau, Mahmoud Abbas, Netanyahu, boo, Lawahez Jabari, Adela Suliman Organizations: country's Ministry of Foreign Affairs, NBC News, NBC, U.S, Embassy, Health Ministry, Reuters, Israeli Locations: JERUSALEM, Israel's Mount, New York, Canada, Argentina, Mount Meron, Israel, Meron, U.S, United States, Jerusalem, London
Bipartisan group to hold police reform talks as George Floyd Act stalls in Senate
  + stars: | 2021-04-29 | by ( Jacob Pramuk | ) www.cnbc.com sentiment -0.97   time to read: +2 min
Stefani Reynolds | Bloomberg | Getty ImagesLawmakers from both parties will join police reform talks Thursday as Congress tries to craft a bill that can get through a narrowly divided Capitol. Eight senators and representatives plan to discuss policing changes in formal talks, a congressional aide confirmed to CNBC. Tim Scott, R-S.C., Cory Booker, D-N.J., and Rep. Karen Bass, D-Calif. Bass is the lead author of the George Floyd Justice in Policing Act, which the Democratic-held House passed last year and for a second time in March. Scott led a Republican proposal that Democrats blocked last year in the Senate, at the time controlled by the GOP. Scott, Booker and Bass will all attend the talks Thursday afternoon, NBC News reported.
Persons: Karen Bass, George Floyd, Stefani Reynolds, Sens, Tim Scott, Cory Booker, Scott, Booker, Bass, Dick Durbin, Lindsey Graham, Josh Gottheimer, Benjamin Crump, George Floyd's, Philonise, Chuck Schumer, Derek Chauvin, Chauvin Organizations: Democratic Black Caucus, Democratic, U.S, Capitol, George, George Floyd Justice, Washington , D.C, Bloomberg, Getty, CNBC, Republicans, Republican, GOP, Black, NBC News, NBC Locations: California, Washington ,, Minneapolis
Newman sells ModernaLast week, Insider reporters Kimberly Leonard and Warren Rojas profiled the stock trades of Rep. Marie Newman, a freshman Democrat from Illinois, and her husband. On Wednesday, Newman reported that she or her husband made additional stock trades in January. And he and his wife last week reported making dozens of different stock trades and financial moves during March. Rep. Josh Gottheimer, a Democrat from New Jersey, made more than 60 stock trades during March. Rep. John Yarmuth, a Democrat from Kentucky, meanwhile made nearly 20 stock trades during March.
Persons: Anthony Gonzalez, Marie Newman, Josh Gottheimer, Democratic Sen, Patty Murray, Anthony Gonzalez of, GoodRx, Mehlman Castagnetti Rosen, Thomas . Gonzalez, Newman, Kimberly Leonard, Warren Rojas, Peters, Sen, Gary Peters, Michigan who's, Brian Mast, Mast, Donald Duckworth, Tammy Duckworth, Chip Somodevilla, Murray, — Murray, Helen Hare, Mazie, Jim Risch, Michael McCaul, Estee, John Yarmuth, meanwhile, Berkshire Hathaway, Warren Buffett, Mo Brooks, Warren Buffett's, Bill Clark, Brooks, Yarmuth, Donald Trump's, Scott, Rick Scott, Ann, Andrew Cuomo Organizations: GoodRx, Democratic, Moderna, Republican, Anthony Gonzalez of Ohio, NFL, Nike, Rep, Pfizer, Boeing, Twitter, Democrat, Vanguard Utilities Index, NextEra Energy Inc, Duke Energy Corp, Southern Co, Dominion Energy Inc, Exelon Corp, Sempra Energy, Xcel Energy Inc, American Electric Power Company Inc, American Electric Power Company, Biofuels, Mast Rep, Florida Republican, Aemetis Inc, Verizon Communications, Walt Disney Company, Inc, Hawaii Democrat, Idaho Republican, Google, Companies Inc, Etsy Inc, FedEx Corporation, Lululemon, Twitter Inc, Wayfair Inc, Airbnb Inc, Apple Inc, Depot Inc, Moderna Inc, Tesla Inc, American Tower Corporation, Broadcom Inc, Cisco Systems Inc, ProLogis Inc, Bank of America Corporation, Facebook Inc, JPMorgan Chase &, Netflix Inc, UPS Inc, Berkshire, Getty, Alabama Republican, Virginia, Building, New, Turnpike Authority, New York Gov Locations: COVID, Illinois, Michigan, Southern, Florida, California, Washington, , Sens, Hawaii, Idaho, Texas, New Jersey, Kentucky, Berkshire, Alabama, New York, New York City
Repealing the $10,000 state and local tax deduction cap is likely to have uneven results for Americans. Asian families, 9 percent of the state, would see about 11 percent of the benefits of a SALT cap repeal. Roadblocks to a SALT cap repealTo be sure, most American families of all races would see little to no benefit from a repeal of the SALT cap. Only 9 percent of American households could see any benefit from a SALT cap repeal, according to the Tax Policy Center. On Tuesday, Rep. Josh Gottheimer, D-N.J., suggested that cutting the SALT cap could be paid for by increased IRS audits.
Persons: Trump’s, Joe Biden, , Carl Davis, ITEP, schoolBernie Sanders, Joe Biden’s, Josh Gottheimer Organizations: CNBC, Taxation, Policy, Lawmakers, Invest, Tax, Center, Comcast Ventures Locations: New Jersey , California , Illinois, New York, You:These, New Jersey
Bipartisan Group Backs Gas-Tax Increase as Option to Fund Infrastructure
  + stars: | 2021-04-23 | by ( Andrew Duehren | ) www.wsj.com sentiment -0.85   time to read: +1 min
The group of 58 lawmakers, dubbed the Problem Solvers Caucus, proposed indexing gas and diesel taxes to inflation, highway construction costs, fuel-economy standards, or some combination of the three in a report on infrastructure released Friday. The report lays out several possible fee increases, including a vehicle-miles traveled tax that would collect revenue from electric vehicles. While the bipartisan group doesn’t lay out specific funding levels, it does call for federal investments in rail, water infrastructure, and broadband. Closing the gap between taxes owed and taxes paid and creating a national infrastructure bank are among other revenue ideas the group lays out. The report comes as President Biden seeks to advance his $2.3 trillion infrastructure plan on Capitol Hill.
Persons: WASHINGTON, hasn’t, Biden, Biden’s, , Josh Gottheimer Organizations: Republican, Democratic, Capitol, Republicans, GOP Locations: N.J
Bipartisan Group Backs Gas-Tax Increase to Fund Infrastructure
  + stars: | 2021-04-23 | by ( Andrew Duehren | ) www.wsj.com sentiment -0.94   time to read: +1 min
The group of 58 lawmakers, dubbed the Problem Solvers Caucus, proposed indexing gas and diesel taxes to inflation, highway construction costs, fuel-economy standards, or some combination of the three in a report on infrastructure released Friday. Congress hasn’t raised the gas tax, which stands at 18.4 cents a gallon, since 1993. While the bipartisan group doesn’t lay out specific funding levels, it does call for federal investments in rail, water infrastructure, and broadband. They propose easing regulations on approving new projects and incentivizing more private investment in infrastructure, among other measures. The report comes as President Biden seeks to advance his $2.3 trillion infrastructure plan on Capitol Hill.
Persons: WASHINGTON, hasn’t, Biden, Biden’s, Josh Gottheimer Organizations: Republican, Democratic, Capitol, Republicans, GOP, Locations: N.J
New York, New Jersey lawmakers on Biden's capital gains tax proposal
  + stars: | 2021-04-23 | by ( ) www.cnbc.com sentiment -0.90   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNew York, New Jersey lawmakers on Biden's capital gains tax proposalRep. Josh Gottheimer (D-NJ) and Rep. Nicole Malliotakis (R-NY) joined "Squawk Box" on Friday to discuss President Joe Biden's new proposal about a hike in capital gains taxes as well as the lawmakers' recently formed bipartisan SALT caucus.
Persons: Josh Gottheimer, Nicole Malliotakis, Joe Biden's Locations: York , New Jersey
Repealing the $10,000 cap on state and local tax deductions, known as SALT, could be paid for by increased IRS audits, Rep. Josh Gottheimer, D-N.J., says. Making sure that so-called tax cheats pay their fair share could also help fund parts of President Joe Biden's $2.25 trillion infrastructure plan, he said. Gottheimer, along with a group of House Democrats and Republicans from high-tax states, recently formed the Bipartisan SALT Caucus to eliminate the cap. The group has said that they won't support any infrastructure plan that doesn't include a repeal of the SALT cap, potentially creating a snag in the package's road to becoming law. The White House has thus been hesitant to support a repeal of the SALT cap and tasked those asking to reinstate the full deduction to find a way to pay for it.
Persons: Josh Gottheimer, Joe Biden's, Gottheimer, Deepak Chopra, Donald Trump's, Chuck Rettig Organizations: Treasury, House Democrats, Caucus, Taxation Locations: Invest
A bipartisan group of lawmakers is seeking to reverse Trump's 2017 SALT tax cap. The demands of the "SALT Caucus" could impact Biden's $2 trillion infrastructure package. A congressional battle line was forming last week over former President Donald Trump's SALT tax cap, which is threatening to derail President Joe Biden's $2 trillion infrastructure proposal. A bipartisan group of more than two dozen lawmakers, calling itself the SALT Caucus, formed to push for Trump's cap on tax deductions be reversed. But it could also raise the cost of Biden's plan, making it more difficult for House Speaker Nancy Pelosi to usher the plan through the House.
Persons: Donald Trump's, Joe Biden's, Biden, Jen Psaki, Alexandria Ocasio, Cortez, Nancy Pelosi, Josh Gottheimer Organizations: SALT Caucus, Democrats, New Jersey's, State and Locations: New York , California, White, Alexandria, Cortez, New York
Bipartisan House group pushes to scrap SALT cap as infrastructure debate heats up
  + stars: | 2021-04-15 | by ( Jacob Pramuk | ) www.cnbc.com sentiment -0.64   time to read: +1 min
A group of House members applied more pressure to repeal the state and local tax deduction cap on Thursday, as the policy emerges as a possible stumbling block in efforts to pass President Joe Biden's infrastructure plan. Lawmakers from both parties announced the SALT caucus, which aims to scrap the $10,000 limit on state and local deductions set as part of the 2017 Republican tax law. The roughly 30 House members in the group largely represent the high-tax states of New York, New Jersey and California. Members of Congress from those states have pushed to get rid of the tax deduction cap since the GOP passed it. A handful of lawmakers have tied the push to repeal the limit to Democrats' next legislative priority: a more than $2 trillion infrastructure and jobs package.
Persons: Joe Biden's, Josh Gottheimer, Tom Suozzi, New York —, Bill Pascrell Organizations: GOP, Democrats, Democratic, New York Locations: New York , New Jersey, California, New Jersey, New
Congressional lawmakers from both sides of the aisle are calling for a repeal of the state and local tax cap, arguing that they hurt middle-class Americans. On Thursday, representatives led by Rep. Tom Suozzi, D-N.Y.; Rep. Andrew Garbarino, R-N.Y.; and Rep. Young Kim, R-Calif., announced a bipartisan caucus to overturn the so-called SALT cap. D-Calif., reserving the right to oppose any future tax legislation that doesn't include repealing the SALT cap. The cap put in place thus hurt families that were taking state and local tax deductions larger than $10,000. "Taxes went up for the families in my district I represent, not down," Gottheimer said, adding that it meant people and jobs left the state.
Persons: Tom Suozzi, Andrew Garbarino, Young Kim, Donald Trump's, Nancy Pelosi, Joe Biden, Chuck Schumer, Schumer, Democratic Sen, Kirsten Gillibrand, Andrew Cuomo, Josh Gottheimer, Gottheimer Organizations: Rep, IRS, Democratic, Gov, New York Locations: New York, Invest, New, New York City, Gottheimer's district, New Jersey
The debate puts Biden, who campaigned on reversing most of Trump's tax moves, including the SALT caps, in the unusual spot of siding against reversing a Trump policy. But so far, those lawmakers who want to reverse this particular Trump policy aren't budging. Proponents of keeping SALT caps, including progressives, have pointed to the fact that their removal would disproportionately benefit the wealthy. “It’s impossible to deny that Republicans when they fashioned their tax bill, were quick to try to use wedge issues wherever possible,” Totten said. Prior to the cap, the average SALT deduction in New Jersey had been upwards of $19,000, according to the Tax Policy Center.
Persons: Joe Biden’s, Donald Trump's, Biden, Democratic Party —, Trump, Nancy Pelosi, Chuck Schumer, haven’t, Biden doesn’t, , Glenn Totten, Mitch McConnell, Jen Psaki, Axios, Maura Quint, “ We’re, Josh Gottheimer, , Mikie Sherrill, Tom Suozzi, Gottheimer, Suozzi, Pelosi, ” Schumer, filers, Andrew Cuomo, ” Totten, Joel Payne, Payne, Biden “, Biden’s, Quint Organizations: Democratic Party, White, Democratic, NBC News, Democrats, , Senate, Republicans, New York Gov, Tax, Trump Locations: Northeast, California, , D, New York , New Jersey , Connecticut, Brookings, New Jersey, New York, Oklahoma, Trump
Rep. Marjorie Taylor Greene raised $3.2 million in her first three months in Congress. By contrast, Greene raised a little over $3 million during the course of her 2020 campaign for Georgia's 14th Congressional District, $950,000 of which was self-funded. Greene's campaign has not yet filed its first-quarter fundraising numbers, but Greene spokesman Nick Dyer confirmed to Insider that she'd raised $3.2 million. The 2020 election cycle saw record amounts of money pouring into competitive races, but a freshman House member raising $3.2 million in their first quarter in office is virtually unheard of. Rep. Alexandria Ocasio-Cortez, for example, brought in $726,000 in her first quarter in office in 2019 and $1.2 million in the second quarter of 2019.
Persons: Marjorie Taylor Greene, Greene, Nick Dyer, Trump, Biden's, Josh Gottheimer, Greene's, Alexandria Ocasio, Steve of, Scot Peterson, Nancy Pelosi, Hillary Clinton, Huma Abedin Organizations: Rep, Democratic, Georgia's, Congressional District, Republicans, Education, Labor, Republican, CNN, Media, Facebook, Rothschild Inc Locations: Alexandria, Cortez, Steve of Iowa, Broward County, California
Jamie Dimon slams state and local tax repeal as a benefit to the rich
  + stars: | 2021-04-07 | by ( Robert Frank | ) www.cnbc.com sentiment -0.98   time to read: +2 min
Specifically, he said "state and local governments are equally to blame" because of their efforts to repeal the $10,000 cap on state and local tax deductions. And he cited research showing that the vast majority of the benefits of any SALT repeal would flow to the wealthy. Dimon's highly public attack on the SALT repeal comes at a sensitive time for the tax provision. According to the Tax Policy Center, more than 96% of the benefits of a SALT repeal would flow to the top 20% of earners. Those in the top 1% would see an average tax cut of $31,000 from a SALT repeal, according to the Tax Policy Center.
Persons: Jamie Dimon, JPMorgan Chase, Tom Suozzi, Josh Gottheimer, Jen Psaki Organizations: JPMorgan, Democratic, Tax, Center, White, White House Press Locations: — California , Connecticut , Illinois , New Jersey, New York
DAVENPORT, Iowa — House Minority Leader Kevin McCarthy traveled to Iowa on Wednesday, trying to turn a seat his party won by just six votes into a charge of hypocrisy against Democrats. McCarthy, R-Calif., is traveling to the Hawkeye State to appear at events with Miller-Meeks, an attempt to draw attention to the House Administration Committee's on going review of the Iowa election. “This is the people's House, not Pelosi’s House,” McCarthy said during an interview with FOX News on Wednesday. But many Democrats say the presidential election and the Iowa congressional race aren’t comparable. The Iowa election was close, not fraudulent, they argue, and all they are seeking is a full recount, including the legally cast votes that were left out of the original tally.
Persons: Kevin McCarthy, Republican Mariannette Miller, Meeks, Rita Hart, Donald Trump's, Joe Biden's, McCarthy, Trump, Nancy Pelosi, , Rodney Davis, Miller, Hawkeye, Committee's, ” McCarthy, “ Pelosi, Hart, Marc Elias, Elias, Meeks hasn’t, shouldn’t, Pelosi, Josh Gottheimer, Alyssa Keel, ” Leigh Ann Caldwell, Alex Moe Organizations: Republican, Republicans, Capitol, House Administration, FOX News, Iowa State Board, Canvassers, Democratic, NBC News, Iowa, Locations: DAVENPORT , Iowa, Iowa, Arizona, Pennsylvania, America, House, Davenport, Florida
Total: 25