What Could a Partial Repeal of the State and Local Tax Deduction Look Like?
A cap on the state and local deduction would limit tax increases for high-income taxpayers but also raise about one-quarter the revenue as full repeal.
2 min readA cap on the state and local deduction would limit tax increases for high-income taxpayers but also raise about one-quarter the revenue as full repeal.
2 min readIf lawmakers are looking to maximize the positive economic effects from a tax bill, then improving tax depreciation for structures should probably be part of the conversation. Here are a few options.
10 min readInstead of making expensing temporary, lawmakers could pursue other ways to speed up cost recovery with permanent economic gains and without drastically reducing revenue. One way to do that is by enacting “depreciation indexing.”
12 min readTax reform should aim to get the tax code out of the way of entrepreneurship by making it simpler, less burdensome, and eliminating its anti-growth biases.
16 min readBased on the details we have, the Big Six tax plan would lower taxes on the bottom 80% of taxpayers, and raise the tax burden on the top 20% of taxpayers.
7 min readThe state and local tax deduction favors high-income individuals in high-tax states. Six states—California, New York, New Jersey, Illinois, Texas, and Pennsylvania—claim more than half of the value of the deduction.
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