Trump Speeds Up Tax Bill Deadline as Tentative SALT Deal Reached

June 27, 2025, 10:53 PM UTC

President Donald Trump amped up pressure on Congress to speed passage of his tax-cut bill as Republicans reached a tentative deal on the state and local tax deduction, one of the key sticking points in the negotiations.

“The House of Representatives must be ready to send it to my desk before July 4th — We can get it done,” Trump said on Truth Social Friday.

The new deadline — before July 4 — is somewhat of a reversal for the president who, hours earlier told reporters that it wouldn’t be the “end-all” if Congress missed the self-imposed Independence Day goal. ...

Learn more about Bloomberg Tax or Log In to keep reading:

Learn About Bloomberg Tax

From research to software to news, find what you need to stay ahead.

Already a subscriber?

Log in to keep reading or access research tools.