Welcome to The Hill’s Business & Economy newsletter, I'm Aris Folley — covering the intersection of Wall Street and Pennsylvania Avenue.
Essential Reads
FBI Director Kash Patel said the Trump administration’s budget request wouldn’t be sufficient to fund the agency, asking appropriators to reject a more than $500 million proposed cut in favor of an increased budget.
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Full StoryJon Voight is speaking out about the tariff plan he said he presented to President Trump, saying the commander in chief is aiming to return Hollywood to a previous era through levies on international films.
Tax Watch
House Republicans have yet to strike a deal on how to address the state and local tax (SALT) deduction cap, a lingering hang-up that has emerged as one of the biggest sticking points in the party’s bill full of President Trump’s legislative priorities.
Reps. Andrew Garbarino (R-N.Y.) and Young Kim (R-Calif.) — co-chairs of the SALT Caucus — huddled with members of the House Ways and Means Committee during their weekly lunch meeting on Wednesday to discuss the deduction cap, which Republicans from high-tax blue states wants to raise, but deficit hawks are skeptical of.
Leaving the gathering, key lawmakers said an agreement was still elusive.
“I don’t think there’s any deal,” said Rep. David Schweikert (R-Ariz.), who sits on the Ways and Means Committee. “Not yet.”
Rep. Nicole Malliotakis (R-N.Y.), a member of the SALT Caucus and Ways and Means panel, said the group is “still working it out,” adding: “We have been discussing a whole bunch of options inside, so we don’t have any particulars just yet.”
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