Taxes

State, local tax deductions ‘probably’ have to stay to pass reform: Varney

You could see it coming....a revolt. Politicians, both Democrats and Republicans are up-in-arms about deducting state and local taxes. There is a proposal to end that deduction. That is a very big deal, especially in states where local taxes are high and the deduction is very important -- New York and California in particular. Cut that deduction, and high income people might end up paying more.