WASHINGTON - In the rush toward a deal on a massive Republican tax package, House and Senate negotiators agreed to expand a deduction for state and local taxes to allow individuals to deduct income taxes as well as property taxes. The deduction is valuable to residents in high-tax states like New York, New Jersey and California.Both the House and Senate bills would scale back the deduction for state and local taxes, limiting it to $10,000 in property taxes.
House, Senate Negotiators Agree On Some Parameters Of Tax Bill
The Associated Press, Times Herald-Record
Tue, 12/12/2017 - 9:02pm
Sections: u.s.
Topics: New York Orange County, NY Middletown
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