Thursday, November 16, 2017

House tax bill passes 227-205, Senate still working on theirs

From the story here:

[T]he bill would limit state and local deductions and the mortgage interest deduction, eliminate the personal exemption and nearly double the standard deduction. ... The most significant difference between the chambers' plans is the treatment of state and local tax deductions. The Senate plan would eliminate those deductions entirely. The measure could alienate some House Republicans who voted for the chamber's bill that would allow up to $10,000 in property tax deductions.