Trump, tax cut and Republicans
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Democrats on the committee introduced a series of amendments aimed at increasing the top marginal tax rate to its pre-2017 level of 39.6%, closing the carried-interest loophole, and blocking any tax breaks to centimillionaires and wealthy heirs. Republicans rejected every single one.
Republicans from high-tax blue states want a higher cap for the state-and-local tax deduction.
As Florida leaders debate how to cut taxes, Republicans agree they want to reduce property tax burdens. But what would the impact of broad slashes be on local government?