The elimination of deductions for state taxes is simply an attack on blue states and will destroy the progressive agenda in those places, which of course depend on state taxes. CA, NY, OR, VT, MN all have rates in excess of 8%. (So do ME, IA.) Now there will be a huge pressure to cut those taxes–and that’s before we get to the question of property taxes. Basically states will no longer have the ability to fund their own objectives using progressive taxes. Education, healthcare, environmental goals, etc, will all suffer. The goods news is that NY and CA Republicans will now have this steaming pile of turd on their plates in 2018.
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So, states that show personal responsibility by collecting taxes to pay for their needs will be punished by Republicans, and free-loader states that are always whining for federal funds because they don’t raise their own money will be rewarded.
What’s astonishing is that the first response most of us will have is: Typically Republican. We’ve normalized GOP hypocrisy to the point where we expect it, and are surprised when it’s absent.
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Carried interest? I see nothing about carried interest being taxed as regular income. Keep giving it away to Wall Street.
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News has sometimes been defined as “reporting the unusual.” If that is the case there is no news here. The Republican have continued their practice of politicizing every public policy. Now we hear they want to tax the residents of states that traditionally vote Democratic and reward those who live in traditional Republican states. Nothing new with that. Let’s move on to kicking their asses starting next Tuesday in New Jersey and Virginia and then on to 2018.
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I’m going to correct my own post. I just read that they have increased the child tax credit from $1,000 to $1,600, so the family in my example would end up paying about $240/year less in taxes. So they save 20 bucks a month while the wealthiest save tens of thousands. Meanwhile, deficits skyrocket and threaten valuable programs that this family might need. Is it really worth it?
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As an upstate New Yorker, I’m happy to see Chris Collins weigh in on tax reform. I though he must be in jail by now (maybe he will be by the time this comes up for a vote, if ever). I wonder how his constituents feel about him so consistently and reliably voting against their interests?
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So there goes Susan Collins’s vote. We only need two more Republican Senators to block this thing.
Iowa has Grassley and Ernst. Maybe we can get them to oppose repealing the state tax deductions?
Also, Idaho’s state tax rate tops out at 7.4%, so maybe Crapo and/or Risch will oppose it too.
I think the bill will fail anyway, but I can’t see repealing the state tax deductions surviving in the Senate.
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Screw the Blue States! They’re not real Amurikans. It’s Red states that make America great again. Not those blues states filled with sanctimonious educated libertards, anti-religious universities that teach so-called ‘science’, and those 21st century inter-tube companies who don’t make real 19th century products like guns. The only thing Trump omitted is tax deductions for gun owners. 
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The plan also limits the deductibility of local property taxes to $10,000 while eliminating the deduction for state income taxes, which generated significant opposition from Republicans in high-tax states such as New York and New Jersey.
So doesn’t that mean that states with high property taxes in lieu of income taxes (like NH) are going to suffer from the 10K limitation? Where are the Congress people from those states going to fall on this?
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D.O.A.
Nice job gopers!
I would expect the AARP to come out screaming. This could be tragic for seniors.
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The most politically easy thing to do is to fund a tax cut with deficit spending, and that’s the main thrust of this. The currently rich get a nice dividend paid for with borrowing to be paid back, oh, who-knows-when.
Trump wanted to call this the “Cut, Cut, Cut Act.” It would be more appropriate to name it after that little known, but quite busy nowadays, Republican operative, the “Ben Dover Act.”
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would add $1.5 trillion to the nation’s debt.
There’s the overriding deal breaker right there.
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YES YES YES
I was just about to write something similar. There is absolutely NO intention of cleaning up “an inefficient, loophole-cluttered tax code.” They may, in fact, “simplify” things that will obfuscate the tax breaks to the wealthy and to corporations increasing that “evil deficit” they talk about all the time and increasing the burden on the middle and lower income classes thus making it “simpler” to tell the haves from the have nots!
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Is there a text of the proposal anywhere? It’s hard to evaluate from that dog and pony show. It is a complete farce to say that instead of getting $6,000 of zero bracket income a single person is now getting $12,000. Last year a single person got $6,300 of standard deduction AND a personal exemption of $4,050 which totals $10,350. AND the tax rate on the amount over the zero bracket has been increased by 20%.
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This tax plan is a declaration of war on blue states. It is LITERALLY them playing out their geographic cultural resentments on our bank accounts and earnings. This is ENTIRELY the result of gerrymandering handing outsized voting power to red state rural douchebags and the electoral college finally destroying American democracy.
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They stoled Arnold Schwarzenegger tax bill – spoiler alert 
it did work out too well for Angelenos.
the Joke? is on all Trump supporters who live in blue states that actually voted against. their own interest. like the losers in rural America. You can’t make this “Fairy Tale” up. are you laughing blue state republicans or are you all Corporations? Another recession/Depressiuon a la 2007 on its way
Nah. Both of them place higher priority on plutocratic pandering to the oligarchy and fucking those they resent culturally.
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