Republicans in the House of Representatives have reached a deal to raise the cap on the federal deduction for state and local taxes to $40,000, according to Politico. House Speaker Mike Johnson made the private agreement with a group of blue-state Republicans who had demanded an increase in the cap as part of negotiations over a bill Republicans are working on to enact much of President Donald

Republicans and House Speaker Mike Johnson have come to an agreement to boost the state and local tax deduction to $40K, indicating that one of the last sticking points for President Donald Trump's massive tax cut bill has been resolved,