US EditionFrugal states shouldn't subsidize wasteful ones
- The House approved legislation dubbed the "big, beautiful bill" by Trump, which prevents the lapse of the 2017 tax reform he championed, thereby protecting taxpayers from substantial tax increases, and is now advancing to the Senate.
- This legislation responds to concerns that letting the act expire would lead to significant tax increases affecting 62% of households, including a $1,700 rise for single filers earning $75,000 and nearly $7,500 for some families.
- The 2017 act had simplified taxes by reducing itemized deductions from 30% to 11% of returns and capped state and local tax deductions at $10,000, reversing policies that previously encouraged detailed record-keeping.
- Critics argue the bill would provide a $300 billion subsidy favoring high-income taxpayers in high-tax states like California, New York, and New Jersey, effectively shifting costs to taxpayers in states like Ohio and West Virginia.
- Supporters contend ending the subsidy will not reduce services but better align tax burdens with service consumers, emphasizing that states wanting higher taxes and spending should bear those costs themselves.
26 Articles
26 Articles
Gordon Gray: Salty over SALT: Let California pay its own bills, not taxpayers in Ohio
Imagine President Donald Trump waking up to the news that California faces a $12 billion deficit, and instead of letting the state reckon with its budget bloat, announcing a plan to make taxpayers in West Virginia, Ohio and the Dakotas…
Frugal states shouldn’t subsidize wasteful ones
Imagine President Donald Trump wakes up to the news that California faces a $12 billion deficit and, instead of letting the state reckon with its budget bloat, announces a plan to make taxpayers in West Virginia, Ohio and the Dakotas…
Helena Independent Record
Frugal states shouldn't subsidize wasteful ones
Imagine President Donald Trump wakes up to the news that California faces a $12 billion deficit and, instead of letting the state reckon with its budget bloat, announces a plan to make taxpayers in West Virginia, Ohio and the Dakotas…
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