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Swing State Republicans Concerned Over GOP Tax Reform

Swing State Republicans Concerned Over GOP Tax Reform
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By    |   Wednesday, 04 October 2017 09:19 AM

A provision in the Republican tax reform plan is concerning for a number of Republicans in swing states, who have warned that they will oppose the GOP plan if it is included.

The plan would raise $1.3 trillion over 10 years by eliminating a deduction for state and local taxes, but could jeopardize people in New York, New Jersey, California, and other high-tax states, The Hill reported.

The current law allows taxpayers who itemize to deduct state and local taxes from their federal taxable income.

A number of Republican congressmen in swing districts represent areas where the deduction is important, which would provide an opening for Democrat campaign ads against them, according to the Hill.

"I believe it is critically important to continue the deductibility of state and local taxes. I believe that it is essential to continue this in the code," said Rep. Leonard Lance, R-N.J.

"I am a 'no' on tax reform unless it preserves the deduction," Lance said.

Significant amounts of taxpayers in New York, New Jersey, California, and Illinois use the state and local deduction, and 35 Republicans serve in those states; many of which are in the sights of Democrats in 2018, the Hill reported.

"I think it's going to be a very tough issue for them," said Rep. Ben Ray Lujan, D-N.M., chairman of the House Democratic Campaign Committee.

Rep. Steve Stivers, R-Ohio, the chairman of the National Republican Congressional Committee, told the Hill Tuesday that he believed Republicans would support the tax reform plan after they get more information about it.

"Once they see the brackets and the rates, I think it will be OK," Stivers said.

Rep. Kevin Brady, R-Texas, Ways and Means Committee chairman, discussed the issue with GOP legislators Monday night. "We're working with and listening closely to our lawmakers, Republicans and Democrats alike, who are in the high-tax states," Brady said.

Rep. Chris Collins, R-N.Y., was among the swing-state Republicans at the dinner with Brady. "I feel there will be an accommodation for us," Collins said Tuesday, according to The Hill.

Wall Street figures Warren Buffett and Larry Fink criticized the Trump tax plan.

Buffett said a corporate tax rate as high as 27 percent could satisfy U.S. businesses' call for tax relief.

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A provision in the Republican tax reform plan is concerning for a number of Republicans in swing states, who have warned that they will oppose the GOP plan if it is included.
swing state, republicans, concerned, GOP, tax reform
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2017-19-04
Wednesday, 04 October 2017 09:19 AM
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