00:00Negotiations are currently underway before a House vote on the tax bill.
00:04President Trump has been meeting with GOP lawmakers and Bloomberg's Tyler Kendall is also on the Hill and she joins us there live.
00:10Tyler, give us the latest. Yeah. Hey, Scarlett.
00:13Well, President Trump came here to Capitol Hill with a message to House Republicans that they have to strike a deal and pass this reconciliation package.
00:21But he really left the Hill with some lawmakers still saying that they're not going to budge when it comes to voting for this legislation as it stands.
00:29And that includes Republican Congressman from New York, Mike Lawler. He's part of the so-called Salt Caucus.
00:35He's Republicans that represent high tax states like New York, New Jersey and California who say that they need to see a steeper lifting of the cap from the current proposal of lifting it from $10,000 to $30,000.
00:47The Salt Caucus really has been one of the big sticking points here for advancing this legislation.
00:52And I actually had the chance to catch up with Congressman Lawler just moments ago and he told me he made his case directly to the president.
00:59I made the point. Obviously, I respect the president's perspective on this.
01:05We want to get a bill passed. We don't want the tax cuts to expire because that would be the largest tax increase in American history.
01:15But we need to come to an agreement.
01:17And I've been very clear from the start that I will not support a tax bill that does not provide real tax relief to my constituents.
01:26And that requires lifting the cap on salt.
01:28It's our understanding that President Trump spoke individually to members of the so-called Salt Caucus as well as to fiscal hawks, which is really the other side of this scarlet.
01:39These are these members of the House Freedom Caucus that say that they need to see more savings policies, whether that be spending cuts or revenue raisers, in order to get behind lifting the salt cap higher than the current proposal.
01:51We're going to have to wait and see how this all shakes out. Of course, as you all know, there are very thin margins in the House.
01:57House Speaker Mike Johnson can only afford to lose three votes if he wants to pass this package through the House.
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