State tax on millionaires funds housing for mentally ill
Dec 30, 2019 · - Repeals federal cap on deduction for state and local taxes. A sticking point is how to pay for it. Sponsors are considering raising the top income tax marginal rate from the TCJA’s 37% to its former 39.6%. This may address the argument that the deduction is a subsidy of “millionaires”. ................
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