WASHINGTON (AP) — The chairman of the House’s tax-writing committee says he’s confident that chamber won’t go along with the Senate’s proposal to eliminate the deduction for property taxes.
Republicans in the House and Senate are aiming to put a tax cut bill on President Donald Trump’s desk before Christmas, but major differences in the proposals complicate that effort.
Among the biggest differences: The House bill allows homeowners to deduct up to $10,000 in property taxes. The Senate eliminates the entire deduction.
Ways and Means Committee Chairman Kevin Brady says on “Fox News Sunday” that Republican leaders in the House want people to keep more of what they earn regardless of where they live.
The deduction is particularly important to residents in states with high property taxes, such as New York and California.