John Cornyn talks condition and native deductions in GOP tax plan

Sen. John Cornyn, the No. 2 Senate Republican, signaled Thursday that the GOP could tweak its treatment of favorite tax deductions in its final tax bill.

The separate bills passed by the House and Senate scrap most state and native deductions but leave up to $10,000 in property tax deductions in place. As the chambers move to hit a joint approach in a conference committee, some House members in high-tax blue states have pushed for a state and local tax deduction, as well.

Cornyn, a good Texas Republican, suggested Thursday that considerably more changes to those tax breaks could come.

“I talked to [Residence Majority Leader Kevin] McCarthy the different nights, and he did tell me that this can be an item of contention inside your home,” the Senate bulk whip told CNBC’s “Squawk Box.” “I don’t know what’s going to eventually that. We did adopt the $10,000 deduction for property taxes but there may be some movement for the reason that space. I, frankly, would anticipate that.”

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