Budget

Updated 4:30 p.m. ET, Oct. 29

For some Republicans, the tax overhaul would taste better with SALT.

The House GOP narrowly passed a budget resolution this week, taking an important first step on the path to overhauling the tax code.

But 11 GOP lawmakers voted against the measure out of concern the tax bill would eliminate the deduction for state and local taxes, or SALT. That tax break is especially popular — and valuable — in high-tax states such as New York, New Jersey and California.

Updated at 1:45 p.m. ET

Congress has approved a joint budget resolution, a critical step to paving the way for major tax legislation later this year.

The Senate-approved resolution passed the House narrowly on Thursday, 216-212, with 20 Republicans voting no and House Speaker Paul Ryan, R-Wis., even having to cast a rare vote to help ensure its passage.

Senate Republicans passed a $4 trillion budget blueprint late Thursday by a narrow 51-49 vote, with Kentucky's Sen. Rand Paul joining Democrats in opposing the measure considered a key step in forward on President Trump's promises of a tax overhaul.

The White House praised the bill, saying it "creates a pathway to unleash the potential of the American economy through tax reform and tax cuts."

Matt Markgraf, WKMS

U.S. Congressman James Comer discussed at a town hall in Mayfield on Thursday the Alexander-Murray health care compromise, government spending, adoptions from foreign countries, industrial hemp and other issues with an audience of around 30 constituents. 

Aleksey Butov/123rf Stock Photo

The Illinois House will vote on overriding Gov. Bruce Rauner's vetoes of budget legislation drawn to end the nation's longest state fiscal crisis since at least the Great Depression.

ilga.gov

A package of legislation aimed at ending a two-year Illinois budget standoff is back to the House.

Henryk Sadura/123rf Stock Photo

Another financial showdown is set for Tuesday between Illinois Gov. Bruce Rauner and Democrats who control the General Assembly.

Henryk Sadura/123rf Stock Photo

Illinois lawmakers are back to work after a dramatic vote in the House Sunday to increase income taxes by 32 percent.

Matt Markgraf, WKMS

Murray State University’s Board of Regents approved on Friday a 'balanced' budget for the next academic year, shifting $7.3 million dollars. They also formally approved Mark Arant as Provost and VP of Academic Affairs, changes to academic programs and numerous other matters. Board Chair Stephen Williams also weighed in on the recent 'scathing' University of Louisville Foundation audit.

Matt Markgraf, WKMS

Murray State University’s Board of Regents are expected to vote Friday on the budget for the next academic year. The budget is expected to balance a $4.5 million decline this year and address $1.8 million in fixed cost increases. 

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