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Trump allies pushing him to change tax bill for their benefit: report

Trump allies pushing him to change tax bill for their benefit: report
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Some of President TrumpDonald John TrumpFive takeaways from Cruz, O'Rourke's debate showdown Arpaio files libel suit against New York Times IMF's Christine Lagarde delays trip to Middle East MORE’s donors have recently lobbied him to change the Republican tax-reform bill making its way through Congress, arguing it would hurt them financially, according to a Washington Post report on Thursday.

The Post reported that at a fundraiser Trump attended last weekend, he was approached by Richard LeFrak,a longtime friend and donor, and another donor. Both asked about changes to make the tax bill benefit wealthier New Yorkers. 

Specifically, Trump’s wealthy allies are concerned about the elimination of state and local property tax deductions, which would adversely affect residents in high-tax states, including New York.

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“The president was a little vague in his response on that,” an attendee told the Post, adding that Trump said “we’ve got to see what happens."

The proposed bill in the House would eliminate the deduction and cap the deduction for property taxes at $10,000. The Senate bill eliminates the deductions entirely. Eliminating the deduction was a contentious issue during debate over the legislation, because it hits the hardest in states with high local taxes.

The legislation is now in conference committee being reconciled before it makes it to the president's desk. GOP lawmakers have expressed optimism they will be able to reconcile the House and Senate versions of the bill and submit a final version to Trump by Christmas.