House Speaker Mike Johnson has reached a tentative deal with blue state Republican lawmakers to boost the cap on state and local tax deductions, or “SALT,” to $40,000 in President Donald Trump’s so-called “big, beautiful bill,” Republican sources confirmed to Fox News late Tuesday.  The proposed cap – which is up from $30,000 – would be per household for taxpayers making less than $500,000 per year.  GOP HOLDOUTS...

The U.S. Senate has passed a new bill that would offer a tax deduction on tips worth up to $25,000. This bill, if enacted into law, would also extend to business tax credits for payroll taxes on tips in beauty and spa services. Sen. Ted Cruz, a Texas Republican, is pushing the proposal – which passed unanimously – an outcome considered rare for substantive legislation. NEW PROJECTION SIGNALS...