Chairman's Report - February 2, 2018
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The 2017 tax plan limited to $10,000 the itemized deduction allowed for state and local real estate and personal property taxes and either income taxes or sales taxes (SALT) on itemized income tax returns. Because the SALT deduction is primarily used by citizens in Blue States, even though also by higher income earners with high property taxes in all states, it has been attacked as politically motivated.
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