The House of Representatives waiting to see if the Senate signs off on President Trump's sweeping tax and cut spending cut and spending bill. Joining us right now with where things stand at the moment is Ways and Means Committee Chairman Jason Smith. And chairman, thank you for being with us today.It's always great to be with you. So, Congressman, let's talk through what's happening. The House sent a bill to the Senate, told them, "Don't touch much of this because we have very thin margins in the House. If ...

Tax Bill & SALT Cap - The Senate tax bill proposes a $40,000 SALT cap for 5 years, after which it reverts to $10,000 [1][2] - The House language maintains a $40,000 threshold with a $500,000 income cap and 1% growth [4] - Failure to pass a tax bill could result in the largest tax hike in American history, impacting standard deductions and potentially affecting 7 million people due to the AMT [6][7] - Five members of the House Salt Caucus have agreed to the deal [9] Energy & Tax Credits - Elon Musk criticizes the bill, focusing on the IRA tax credits and potential harm to millions of jobs, particularly in the solar energy sector [9][10] - The House version of the bill aimed to phase out tax credits to mitigate the impact on existing green energy projects [12] - Billions of dollars have already been invested in green energy projects [13] Medicaid & FMAP - The Senate bill includes provisions related to Medicaid, with concerns raised about potential impacts on benefits for eligible recipients [9][15] - Discussions involve eligibility and citizenship verifications, work requirements, and potential changes to FMAP (Federal Medical Assistance Percentage) [15][16] - New York receives a 51% federal share on traditional Medicaid, while some red states receive 60-70% [16] New York City & Politics - A New York Republican Congressman shares his perspective on New York City politics, particularly regarding the choices voters will face in November [19] - He contrasts Eric Adams with Zoran Mandami, characterizing Mandami as a socialist whose policies would be detrimental to the city's economic health [22][23] - Concerns are raised about businesses and individuals leaving New York, potentially impacting the social safety net [24][25]

is the Republicans have reached a tentative deal uh regarding the state and local tax deduction salt. At least that's what we're hearing. That had been a sticking point.My colleague Emily Wilkins is reporting there are a few other key topics still being worked out. But can this big beautiful bill make it to the president's desk by July 4th. Uh I think there's a very good chance and the only way to get there is for the Senate to start voting this weekend. I think there I was just with uh the Senate Republica ...

Congressional Republicans are running out of time to pass President Trump's big beautiful tax bill before the self-imposed July 4th deadline. Trump demanded senators get the deal done this week in a post Tuesday on True Social. So, what needs to get done before now and July between now and July 4th.Washington correspondent Ben Wol joins me now to explain. Ben, what do we know. Yeah, Brad.So, Senator, the Senate already had a really long to-do list here about getting this bill. They need to get this bill pas ...

CNBC's Emily Wilkins reports on comments from Treasury Secretary Scott Bessent. ...

President Trump and his team making one final push to get the president's tax bill across the finish line by next week. Michael Falcon there is uh the deputy treasury secretary and uh Mr. . Secretary it's good to see you from watching from where we are.It just seems like there's you know so many we're going to have Ran Paul on for example there's so many different constituencies you know single person constituencies on both of we just had Michael on as well. Are you confident that when push comes to shove t ...

Following the strike uh on Iran, President Trump quickly turned his attention back uh to his um economic agenda, writing on Truth Social, great unity uh in the Republican party, perhaps unity uh like we've never seen before. Now, let's get the great big beautiful uh bill done. Our country is doing great.MAGA joining us now uh White House National Economic Council Director Kevin Hasset. And because of the the news over the weekend, uh Kevin, I I guess I before we we talk about the big beautiful uh bill in a ...