State and Local Deduction Archive
RSC Budget for FY 2023
June 9, 2022
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TweetShareSharePin0 Shares The Republican Study Committee (RSC) released its FY 2023 budget today, led by Budget and Spending Task Force Chair Rep. Kevin Hern (R-OK) and RSC Chairman Jim Banks (R-IN), and prescribes several pro-growth tax reforms that would simplify the tax code and encourage business investment. Among the most impactful reforms are permanence for
Permanent Build Back Better Act Likely Requires Middle Class Tax Hikes
December 15, 2021
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TweetShareSharePin0 Shares The Congressional Budget Office (CBO) has given us a sobering look into our fiscal future under the Build Back Better Act (BBBA), estimating that if all the bill’s policies were made permanent, $3 trillion would be added to the national debt over the next 10 years. This is on top of more than
Reviewing Benefits of the State and Local Tax Deduction by County
August 25, 2021
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TweetShareSharePin0 Shares As Congress considers repealing or making more generous the $10,000 state and local tax deduction cap in the budget reconciliation process, it is helpful to review how the state and local tax (SALT) deduction is taken by taxpayers across U.S. counties. Using 2018 data from the Internal Revenue Service, we can examine how
