Post Profile

Tax bill: SALT deduction repeal is another blow for blue-state wealth

New York, California are the most affected Tax reform is a particularly thorny political undertaking because the process of eliminating deductions and changing tax rates inevitably creates winner and losers. The winners may or may not provide political support to help shepherd reform to passage, but the losers—particularly if it’s a special interest with a powerful lobby—will fight to the bitter end to kill the bill.
read more


Related Posts

Five Implications of Retaining the Property Tax Deduction Under Federal Tax Reform

Business & Finance / Taxes : Tax Foundation's Tax Policy Blog

As more details about the forthcoming tax reform bill emerge, one compromise appears increasingly likely: repealing the deduction for state and local income and sales taxes, but retaining the deduction for property taxes. In the pas...

Rep. Josh Gottheimer: Tax bill will make home prices plunge

Business & Finance / Real Estate : Realty Check with Diana Olick

Rep. Josh Gottheimer (D-N.J.) discusses the effects of the proposed tax reform bill on blue states, including the elimination of state and local tax deductions. CNBC Senior Contributor Larry Kudlow also weighs in.

Tax Reform Is Hard: State And Local Tax Deduction As Case In Point

Business & Finance : Business in The Beltway

The itemized deduction for state and local taxes is often called a blue state tax break and is on the short list for revenue raisers. Repeal is great in theory, but influential high-income voters in both parties benefit from the tax...

Congress might eliminate California state and local tax deductions. Here’s a look at the numbers

Real Estate / Local Market : OCRegister Real Estate

Congress is debating whether to eliminate the ability of taxpayers to deduct state and local taxes on their federal returns. If these deductions are repealed, almost 30 percent of taxpayers would be affected. Here’s a look at the de...

How states that carried Trump to victory avoid one sticky part of the tax bill

Business & Finance / Mortgage & Banking : Mortgage Lender Implode-O-Meter

``When the House and Senate passed their respective tax bills, they agreed on one thing: The repeal of state and local tax deductions, except for property taxes. Those are capped at $10,000... As the Tax Foundation has shown, the Ru...


Copyright © 2016 Regator, LLC