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GOP Leaders Consider Changing State and Local Tax Deduction Instead of Ending It

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Republican leaders are considering putting limits on the $1.3 trillion state and local tax deduction -- instead of eliminating it -- in order to secure votes from members in the hardest-hit states.

House Ways and Means Chairman Kevin Brady discussed options at a dinner Monday night with several GOP members who have defended the break, known as the SALT deduction. They talked about measures including capping the deduction for top earners, and allowing individuals to choose between deducting mortgage interest or property taxes -- but not both -- when calculating their taxes, according to several dinner attendees.

 

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