Alva Review-Courier -

Senate GOP leader OK with deducting local income taxes

 

December 7, 2017



WASHINGTON (AP) — The top Senate Republican said Wednesday he favors expanding a deduction for state and local taxes to enable Americans to deduct local income taxes as well as property taxes. It was a concession to Republicans from high-tax states who oppose the sweeping tax bill.

The proposal is a possible solution to a standoff with rebellious House Republicans as Congress hurtles toward enacting major tax legislation. The tax bills passed by the House and Senate would end deductions for state and local income and sales taxes, while allowing only a deduction up to $10,000 for property...



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