House Tax Writer Gives Ground on a State and Local Tax Break
Congressman Brady says he’ll allow deduction for property taxes in bill Flare-up shows difficult path forward for tax overhaul plan Bowing to concerns from Republican House members in high-tax states, the chamber’s chief tax writer said he’ll preserve a federal income-tax break for property taxes.
“At the urging of lawmakers, we are restoring an itemized property tax deduction to help taxpayers with local tax burdens,” House Ways and Means Chairman Kevin Brady said in a statement Saturday afternoon.
Talk about your housing bubble.
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