Will the State/Local Income Tax Deduction Disappear?

Probably not. The Wall Street Journal reported today that Republicans are back-peddling on their proposed repeal of the state and local income tax deduction as part of tax reform, primarily because of push-back from lawmakers (D’s and R’s alike) in high income tax states, like New York, California, New Jersey, Maryland and DC. If the deduction is not repealed, the price tag of Republican tax reform will increase by $1 trillion over 10 years.  More when there’s more.

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