Elizabeth Warren Says No To Raising Regressive State and Local Tax Deduction For Income Taxes

Many Democrats in Congress want to lift or raise the cap on the State and Local Tax Deduction — but not U.S. Senator Elizabeth Warren (D-Cambridge). As a result of the federal Tax Cuts and Jobs Act of 2017, an individual can only deduct $10,000 of state income tax and property tax against federal income tax. It used to be unlimited.

Many Democrats in Congress want to lift or raise the cap on the State and Local Tax Deduction — but not U.S. Senator Elizabeth Warren (D-Cambridge). As a result of the federal Tax Cuts and Jobs Act of 2017, an individual can only deduct $10,000 of state income tax and property tax against federal income tax. It used to be unlimited.…