News Affecting Your Wealth Dominated The Headlines This Past Week
The proposal redistributes the tax burden of individuals, making winners of some and losers of others. The linchpin of the House plan would raise about $1 trillion of revenue by eliminating the deduction for state, local, and property taxes. Since residents of high-tax places like New York, New Jersey, and California would be losers if the proposal is adopted as is, the fate of this key provision will be negotiated in a politically-charged process in the weeks ahead.
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