Trump's tax plan cuts rates, removes some deductions The plan would eliminate the deduction for state and local taxes

[McFurd]

Consumer Affairs - 4/26/2017 - James R. Hood - President Trump is unveiling a tax reform plan that would sharply cut taxes for businesses as well as most individual taxpayers. In perhaps the most far-reaching proposal for individuals, Trump wants to eliminate the federal deduction for state and local taxes. This wouldn't mean much to residents of states like Nevada that don't have a state income tax, but it would take a big bite out of taxpayers from New York, New Jersey, California, and other high-tax states, many of which are Democratic. Read more @ https://www.consumeraffairs.com/news/tr ... 42617.html