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GOP wants to kill a tax break beneficial to blue states
Source:
cbsnews.com
- Jul 24, 2017
When are Republicans in favor of raising taxes? Turns out it's when the states that benefit the most from the tax break are Democratic strongholds.
The GOP is eager to eliminate the federal deduction for state and local taxes, a break that provides the biggest bang for the buck to residents of New York, Connecticut, New Jersey and California. Not a single Republican-leaning state ranks in the top 10.
"Although Republicans usually recoil at any type of tax increase, cutting this tax break would almost be fun for them," said Martin Sullivan, chief economist for Tax Analysts. "It provides massively disproportionate deductions to high-tax states controlled by Democrats."
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Category: General Business
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