Another Bad Idea for the Tax Conferees
A political drawback of the Republican tax bills is that they raise taxes on a significant number of voters by curbing the deduction for state and local taxes. A lot of these voters are in households that make between $100,000 and $500,000 in taxable income. About 40 million tax returns come from that group, and its members are disproportionately likely to face higher taxes as a result of Republican tax legislation.
Would Republicans make these households happier if they cut taxes more for households richer than they are?