Los Angeles Times: Let the Games Begin

In the compromise most recently reached by House and Senate Republicans, taxpayers would be able to deduct up to $10,000 in state and local taxes, including property taxes. That’s an improvement over some of the original proposals, which would have wiped out the deductions entirely, but not much of one. The share of California taxpayers facing a tax increase as a result of losing the deduction would fall to between 11% and 12% from 14% under the compromise, according to an estimate by the Institute on Taxation and Economic Policy. Read more