00:00There is news of a deal on SALT, a $40,000 cap.
00:03If that's real, Congressman, you managed to quadruple the current cap.
00:07Is that the kind of bacon that you can bring home?
00:10Look, this was a critically important negotiation.
00:14I was very clear for over two years that I would never support a tax bill
00:18that did not adequately lift the cap on SALT.
00:22We put pen to paper yesterday, met with leadership,
00:25worked throughout the course of the day to come to an agreement
00:30that would lift the cap on SALT and provide real and immediate and lasting tax relief
00:36for hardworking middle-class families.
00:39The agreement would lift the cap to $40,000 with an income cap of $500,000.
00:44That would be phased out.
00:46And anyone making above that would go back down to $10,000, which is the current cap.
00:51And it provides for the entirety of the 10 years of the bill,
00:57which is critically important to make sure that folks are getting real relief.
01:01You know, you look at a district like mine,
01:04three of the four counties I represent are in the top 16 highest property tax counties in America.
01:11So when we talk about these issues, this isn't about the rich.
01:14This is about providing tax relief to middle-class families who are besieged by high property taxes
01:21and high income taxes.
01:23And many of my colleagues will say that a lot of people don't itemize
01:26and they don't take the SALT deduction.
01:29Well, that's true because we doubled the standard deduction.
01:32And part of the pay for for doubling that was SALT.
01:36And so we're seeking after seven years of having this $10,000 cap
01:40to provide real relief to the middle class.
01:43And that's what this is about.
01:45So, Congressman, should we take that to assume with the terms of this deal
01:49that you are now a yes on this legislation?
01:52And assuming you are, are you aware of any member of the SALT caucus who is not yet to yes with you?
01:59I think the members of the SALT caucus, you know, negotiated yesterday in good faith
02:05with leadership, with the administration.
02:06And we settled on something that we believe in, that we support.
02:11Obviously, we're waiting for the final details to emerge out of the rules committee.
02:18But obviously, we made great progress yesterday.
02:20And I feel much better about where the bill is as a result.
02:25There does seem to be some growing optimism over a possible floor vote.
02:30As soon as today, Congressman, maybe tomorrow.
02:32I know the Speaker wanted to see it happen by the Memorial Day break.
02:36Will that be the case?
02:36I know the administration and leadership are working to get that done, meeting with members today.
02:45Obviously, you know, that time frame is something the Speaker set out to achieve.
02:51The objective here is to get the bill passed, ultimately to take effect,
02:56to make sure that we are providing real tax relief, that we are securing our border,
03:02that we are strengthening our military, increasing domestic production of energy,
03:06and protecting vital programs like Medicaid long term and cutting out the waste, fraud and abuse
03:12and making sure that illegal immigrants, for instance, are not receiving benefits
03:18and taking away from the very people who rely on these programs like the IDD community or our seniors or children.
03:26We want to protect this for the long term, get our fiscal house in order while providing real tax relief.
03:32That's what this bill is about.
03:34We've been working on it for months.
03:35Obviously, any time you're negotiating, there's going to be a give and take.
03:39There's going to be a back and forth.
03:42You know, you work through these issues and come to an agreement.
03:46And, you know, as I've said many times, anybody who's ever been married knows you're going to have to find compromises along the way.
03:53You're not going to get everything you want in life.
03:55So you've got to work through this, and that's what we've done in good faith.
03:59Well, and it's not just compromises within the House Republican conference,
04:03but there also may need to be compromises made between the House and Senate,
04:07which will take up this measure next, assuming it can get off the House floor, Congressman.
04:11Has the Speaker shared with you any assurances that the Senate will not make changes to the SALT deal that he just negotiated with you and your colleagues?
04:19This obviously has been a big topic of conversation, and I'll keep those conversations private.
04:26But I certainly know that the Speaker understands how important it is that this agreement remain intact.
04:32I want to go back to the case that you made for raising the SALT cap in the outset, Congressman.
04:38We heard from Chip Roy, of course, a loud member of the Freedom Caucus,
04:43who I understand is going to be meeting with the president later on today.
04:46He suggested that leadership is buying, quote,
04:48a handful of seats with $350 billion in parochial tax subsidies in the form of SALT.
04:55Is it possible to have a conversation with someone who holds that point of view, or are you counting them out?
04:59Well, listen, I respect all my colleagues and their perspectives.
05:04The fact is, New York is a donor state.
05:06We send more money down to Washington than we get back.
05:09So we can get into the subsidy debate about which states are taking money from the federal government
05:15and which ones are actually helping fund the federal government.
05:18But the fact is that New Yorkers should not be double taxed.
05:22They should not be penalized for living in a high tax state.
05:26SALT was in effect for over 100 years.
05:29And it was used as a pay-for.
05:31And, frankly, part of that pay-for was to double the standard deduction
05:35and provide tax relief to Americans all across this country.
05:39We're just simply saying, after seven years of the $10,000 cap,
05:44which was arbitrary and capricious, that we need to have a much fairer approach.
05:49And that's what we have negotiated.
05:51Everybody has understood this for well over two years.
05:54I ran on this.
05:55I fought for it.
05:56I said it very clearly from the moment I came here that I would never support a bill
06:00that doesn't adequately lift the cap on SALT.
06:03We have been working to negotiate to an agreement.
06:06And so that's what we've done.
06:08And I stand by it.
06:09Well, and, of course, you and your fellow New Yorkers who have helped make the Republican majority
06:15have made the case that if that majority is to be retained, there needs to be changes to SALT.
06:19But as we look ahead to 2026, if the other side of this, getting what you want on SALT,
06:25is conservatives also getting a pulling forward of stricter work requirements around Medicaid
06:30to begin in December of 2026, as we understand.
06:33Does that not put the majority at risk for a whole other reason?
06:37How do you navigate around that issue in the midterms?
06:40Well, look, at the end of the day, I think there's broad consensus within the conference
06:44on a few key areas.
06:46Number one, eligibility verification, making sure that somebody who is not eligible doesn't
06:51remain on the program for up to a year, which is what the Biden administration allowed.
06:57Citizenship verification, making sure that illegal immigrants are not receiving benefits
07:01that they're not entitled to.
07:02And work requirements, able-bodied adults without dependents should be trying to work.
07:08I mean, you're talking about 80 hours a month of work requirements or educational requirements
07:14or volunteering.
07:16Anybody who is able-bodied should be trying to improve their life by working.
07:22The fact is Medicaid is a means-tested program.
07:25And so, as part of that, you are trying to help lift people up, lift them out of poverty,
07:32lift them out of their situation.
07:34Work requirements are something Democrats fought for for years.
07:38Bill Clinton was the biggest champion of work requirements.
07:41So, I don't think the issue of work requirements speeding up from 29 to 27 is, frankly, an impediment.
07:52I think there's broad consensus that we should be trying to help people lift themselves up.
07:57Work requirements is a way to help facilitate that as we are providing them with support through Medicaid.
Be the first to comment