The $10,000 limit on the SALT deduction appears destined to stay in place for the time being.
He said he was willing to talk about revisions to the rule that limits state and local tax deductions on federal returns to $10,000.
The IRS made changes to make it simpler for businesses to determine if they can or can’t get the tax break.
The measure could provide managers with hundreds of thousands, or even millions, in tax savings.
Several economists are questioning a White House claim that recent tax cuts have already paid for themselves.
The two states included some Plan B options in their legislation to ease the potential tax hike for residents.
The IRS is blocking charitable workarounds to the new SALT cap established by some high-tax states.
Treasury officials say the so-called "crack and pack" technique is abusive.
The treatment of long-term capital gains was left untouched at 20 percent in the tax overhaul Trump signed in December.
The tax on international profits was meant for techs and pharmaceuticals, but Wall Street could get snagged, too.
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