201711.15
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Repeal of SALT Deduction Not Fully Supported by House

National – The House Republicans’ Tax Cuts and Jobs Bill (HR1) is designed to eliminate the deduction for state and local income and sales taxes for individuals. However, there would be deductions allowed for Property Taxes, up to $10,000 annually. The SALT deductions for businesses will remain in place. The House Democrats have expressed their opposition…