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Republican tax plan to lower cap on mortgage interest deduction to $500,000 loans

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Thu, 02 Nov 17 9:04 PM | 46 view(s)
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a snippet that will cause many repubicans in these states to be opposed to this bill.

Families would also no longer be able to deduct their state income taxes from their federal taxable income, another change that would have a particular impact on places like New Jersey and New York, where state taxes are higher than in other areas.

And Americans would no longer be able to deduct their medical expenses or property and casualty losses, according to a document outlining the plan.

http://www.washingtonpost.com/business/economy/republican-tax-plan-to-lower-cap-on-mortgage-interest-deduction-to-500000-loans/2017/11/02/c0f594d6-bfd5-11e7-8444-a0d4f04b89eb_story.html?hpid=hp_no-name_no-name%3Apage%2Fbreaking-news-bar&tid=a_breakingnews&utm_term=.282a13502b16




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