Live Breaking News & Updates on Mortgage Interest Capped
Stay updated with breaking news from Mortgage interest capped. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
why rob portman is hopeful. mick mulvaney is warning. and steny hoyer is fighting mad. they re all here and only here. we begin with blake burman with the latest. blake? it s clear here in the halls of the capitol as house republicans mark up their bill and the senate will release their bill later this week. there s a host of issues to work through. earlier today, the club for growth, an influential republican group put out a note saying they have issues with four different things on the individual side of this house republican plan. here they are. top tax bracket for millionaires with the possibility that those that make in the low million dollar range can see the top end taxed north of 45%. they take issue with a portion of pass-through profits would be taxed 25%. growth. you had big deficits. it wasn t tax cuts that did it. cuts create growth and growth creates revenues neil: but you left out ronald reagan. i know. deficits didn t grow with him. the first two years ....
Complaining going on. people say i m not getting a tax cut. many people say with mortgage interest capped come on. neil: i m telling you what they said. in expensive states like new york, california, illinois, massachusetts where you can t deduct your state and local taxes. will that be a provision as well? you ll like the senate bill. it s similar to the house bill neil: including no deduction for state and local taxes. no deductions for the state and local taxes. should the federal government subsidize neil: i understand that. but senators from though states, they re going to go ballistic. they need to look at the entirety of the package. it lowers tax rates and provides a tax relief, $1.5 trillion in tax relief to a lot of individuals in their states. in every group of taxpayers, there will be tax relief. ....