Post by ck4829 on Jul 22, 2017 14:16:01 GMT
WASHINGTON (AP) — Republicans aren’t usually big on raising taxes, but they’re really eager to eliminate the federal deduction for state and local taxes.
Why? A look at the states that benefit the most from the tax break helps explain it — they are all Democratic strongholds. New York, Connecticut, New Jersey and California top the list of states where taxpayers get the biggest deductions. 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.”
Proposals by House Republican leaders and President Donald Trump would repeal the tax break as part of their packages to overhaul the American tax code.
apnews.com/91d3a13f83454c98a8a0c224f8117eb2/Republicans-embrace-tax-hike-targeting-Democratic-states?utm_campaign=SocialFlow&utm_source=Twitter&utm_medium=AP
Why? A look at the states that benefit the most from the tax break helps explain it — they are all Democratic strongholds. New York, Connecticut, New Jersey and California top the list of states where taxpayers get the biggest deductions. 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.”
Proposals by House Republican leaders and President Donald Trump would repeal the tax break as part of their packages to overhaul the American tax code.
apnews.com/91d3a13f83454c98a8a0c224f8117eb2/Republicans-embrace-tax-hike-targeting-Democratic-states?utm_campaign=SocialFlow&utm_source=Twitter&utm_medium=AP