Lower-chamber ways and means chair Kevin Brady challenges property tax deduction elimination amid rush to produce bill before Christmas holidays
The chairman of the House tax-writing committee said on Sunday he was confident that chamber would not go along with a Senate proposal to eliminate the deduction for property taxes, setting up a major flashpoint as Republicans aim to put a tax cut bill on Donald Trump’s desk before Christmas.
Republican leaders are moving urgently on what would be the first rewrite of the US tax code in three decades. Key differences promise to complicate the effort.
The House bill allows homeowners to deduct up to $10,000 in property taxes but the Senate proposal unveiled by GOP leaders last week would eliminate the entire deduction. The difference is among the biggest in the two bills to emerge so far.
The deduction is particularly important to residents in states with high property values or tax rates, such as New Jersey, Illinois, California and New York.