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House Chair Leaves Door Open for Bumping Up State and Local Deduction in Tax Bill
Route Fifty: WASHINGTON — House Ways and Means Committee Chairman Kevin Brady on Friday did not reject outright the possibility a proposed cap on the federal deduction for state and local property taxes might be nudged upwards as work continues on Republican tax legislation.
But he didn't show enthusiasm for the idea either.
The Texas Republican was asked during an event held by Politico about whether a proposal is "on the table" to bump the cap on the deduction up to $12,500, from the $10,000 level now in the bill. "Bring the ideas," Brady shot back in response.
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