State and local governments express concerns about Trump tax plan
Groups representing state and local governments said that they are "extremely concerned" about an aspect of President Trump's tax plan.
The president's plan, released Wednesday, would eliminate the deduction for state and local taxes.
Repealing the deduction is also a part of the House Republicans' tax plan. Opponents of the deduction argue that it largely benefits the wealthy and subsidizes municipal spending that may be excessive. Also, repealing the deduction could raise revenue to help pay for lowering tax rates.
But the state and local groups said in a statement that the deduction should be preserved because it gives municipalities the flexibility to provide services to their residents.
https://www.msn.com/en-us/news/politics/state-and-local-governments-express-concerns-about-trump-tax-plan/ar-BBAq7jV?li=BBnb7Kz&ocid=edgsp
