House Tax Bill's Changes to State and Local Tax Deductions Would Hurt States
November 02, 2017
November 02, 2017
WASHINGTON, Nov. 2 -- The Center on Budget & Policy Priorities issued the following news release:
The House tax bill released today ends the federal deduction for state and local income and sales taxes and limits the deduction for state and local property taxes to taxes under $10,000 -- all to pay for marginal income-tax rate cuts. That would be a bad deal for most Americans. It would likely harm state budgets nearly as much in the coming years as full repeal of state and local . . .
The House tax bill released today ends the federal deduction for state and local income and sales taxes and limits the deduction for state and local property taxes to taxes under $10,000 -- all to pay for marginal income-tax rate cuts. That would be a bad deal for most Americans. It would likely harm state budgets nearly as much in the coming years as full repeal of state and local . . .