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QUESTION
Congress passed the Tax Cut and Jobs Act (2018) that capping at $10,000 the deductibility of state and local income, property, and sales taxes before...
Congress passed the Tax Cut and Jobs Act (2018) that capping at $10,000 the deductibility of state and local income, property, and sales taxes before calculating the federal income tax. Taken in isolation, who are the winners and losers of such a policy change? How are the vertical and horizontal equity of taxes affected by this provision?
