When a bill is finally agreed upon then one can argue its positive/negative affects.

However a very critical piece of this proposal is the state/local income tax deduction. iIs a good example of tax preference that adds complexity to the tax codes and subsudizes some taxpayers at the expense of other taxpayers.

In States like New York, New Jersey, California its a big deal. Its a savings overall of $1.25 trillion over 10 years, savings that can be used to lower rates.

There are 33 House Republicans who hail from states such as New York were this deduction is sacrosanct and they are the wealthiest regions in the nation were the deduction amounts are substantial for these taxpayers.

You can bet what side of this issue Chuck Schummer will be on.

Another deduction is the mortgage deduction and lobbyist from builders and realtors are lining up at the door.

Unless we get a clean bill with NO CARVE OUT the end product will be diluted

Personal Best Regards: