Tuesday, September 12, 2017

Tax Reform Is Hard: State And Local Tax Deduction As Case In Point

The itemized deduction for state and local taxes is often called a blue state tax break and is on the short list for revenue raisers. Repeal is great in theory, but influential high-income voters in both parties benefit from the tax break. It's an example of why revenue neutral tax reform is hard.

from Forbes Real Time https://www.forbes.com/sites/beltway/2017/09/12/tax-reform-is-hard-state-and-local-tax-deduction-as-case-in-point/
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