Seven Democratic governors called on President Joe Biden to lift the $10,000 cap on state and local tax deductions Friday that was a part of former President Donald Trump's massive 2017 tax law, arguing the “assault” disproportionately targeted Democratic-run states and ultimately increased taxes on families. The letter comes a...
California’s Rich Will Feel New $12 Billion Tax Bite: Walters
Dan Walters of CALmatters points out in his April 23 column that wealthy Californians can expect to pay $12 billion in additional federal taxes annually as a result of the tax-reform package passed by Congress and signed by President Trump this year. Like many, Walters wonders what impact the added...