We are no tax expert and suggest interested readers head to Breitbart for their analysts.
To us the bill's most interesting part is the capping of the Federal deduction for state or local taxes. This is aimed directly at high tax blue states. Reward friends and punish enemies, Barry used to say.
We live in a blue state.
We suspect this provision will not make it to the final bill as the GOP will need blue state Republicans in the house to support the bill.
Speaking of which there are something like a dozen red state Democrat senators up for election next year. They will be under tremendous pressure to vote for tax reform. If they don't the ads write themselves.'Senator X refused to vote to lower your taxes...'
For these reasons we think this bill will sail right through.
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