- The House GOP
- One of the biggest hangups for Republicans in states like New York, New Jersey, and New York has been the proposed elimination of the state and local tax (SALT) deduction, which allows people to deduct those taxes from their federal bill.
The "Tax Cuts and Jobs Act" will include a broad set of proposed changes to the corporate and individual tax system, building off a nine-page framework the White House and congressional Republican leadersdropped in September.
Among the details of the new bill emerging Thursday morning is a proposed elimination of the state and local tax (SALT) deduction, which is a benefit that allows people to deduct those taxes from their federal bill. House Ways and Means Committee Chair Kevin Brady said Tuesday the GOP reached a deal that would allow people to deduct state and local property taxes up to $10,000 but not income or sales taxes.
ost of the claimants that benefit from the deduction live in traditionally Democratic states like California and New York. The Committee for a Responsible Federal Budget found that New York and California receive about 30.5% of the total benefits from the SALT deduction.
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52 congressional districts held by Republicans registered above-average use of the SALT deduction in 2015, according to data from the Internal Revenue Service cited by Bloomberg. Those include a number of districts in New York, New Jersey, California, and an Illinois district of R
Check out of the full run down on the "Tax Cuts and Jobs Act" here.