Congress released the following details of the proposed federal tax reform legislation:
Following NLC’s lead, MML staff have been talking with Michigan delegation members about preserving the State & Local Tax deduction (SALT) within the federal tax code. The version of the bill released today retains a portion of that deduction for taxpayers to continue deducting local property taxes, but eliminates the deduction for local income taxes.
NLC leaders released the following statement in response to today’s announcement: http://www.nlc.org/article/tax-reform-bill-an-affront-to-local-control
You can view NLC’s State and Local Tax Deduction resource page here: http://www.nlc.org/SALT.
Chris Hackbarth is the League’s director of state & federal affairs. He can be reached at 517-908-0304 and email@example.com.