Page 108 - Deductions News Today

Do. you couple that with a lot of the deductions that middle-class americans, we do away with the amt and we also are expanding the child care tax credit and we added an adult dependent tax credit. its responding to the changing demography. it is a lot to like, people like senator wyden who are always try to raise taxes while his party is in the minority because they always overregulated over tax americans. hes a cherry picking the numbers. they all have different assessments of this. a lot of i...

New york the fact that deductions for state emotional taxes for house versions, how do you answer their concerns? i want to play a little bit about what congressman darrell isa had to say about this. >> we are donor states we already give more money to the federal government then we get back. the test should in fact have not been one in which some states one and some lost. >> shannon: how do you work that out? >> lets state the facts. these high tax states are being subsidized by lower tax state...

Eric, for middle class earners a couple years from now your taxes will go up. the middle class tax cuts in the bill arent permanent while the tax cuts for millionaires and billionaires are permanent. >> eric: joseph just said they could change it. >> they could. while they work on changing in. single mothers who make less than $75,000 a year will figure out how to make ends meet. >> eric: other issues that are concerning. the deduction for medical expenses in out. interest on students loans is o...

Politico. lets start with annie on this. how do they sell it when people see its really about the estate tax for people that have more than $20 million to give their grandkids. when they see its the corporate windfall of 35 down to 20, of the richest losing getting a big tax break at the top. and also things like taking away the tax break you get for paying interest on your student loans, while giving people tax deductions for sending their kids to prep cools. >> well, i think that they sell it ...

Going to be what they pass today. you lock the numbers in now, its a lot more difficult for them to flip and flop if the future. republican leaders are cog cent of that and it will be close, but not something where they crape by by one or two votes. not according to sources that are very involved in the process. >> the best person to follow and listen to on this tax legislation. any legislation. thank you so much, for your reporting. we will check back with you. the senate has problems and assum...

Country. of course 92% of them would get a tax cut. but the issue is whether there is a phase out or not. as we head to the senate bill well be talking about whether or not the repeal of the affordable care act should be part and parcel of it. its something that senator susan collins has come out if thats a part of it i cant vote yes. so one is this whole issue of the health care mandate. and that credit. and how that influences outcome. the other thing is there are other differences. for exampl...

Now were starting to grow faster because the markets have baked in tax reform. the danger here for the economy is if we dont get something done this month or next month i should say. >> are you worried -- let me ask you this way, are you worried it may not trickle down to your constituents that need it the most? >> no. if you look at the history of this tax reduction and simplification, whether in the 20s, 60s or 80s, it has always trickled down. we have median family incomes now stagnated for t...

For them thats less generous in the senate bill. republican senator ron johnson from whiisconsin has been very critical. saying he might vote no. the thing is, they can only lose two votes. so if theres a question of getting to 50 in the senate and then if the senate bill looks different from the house bill, theres the question of being able to reconcile them. in the house theres some members from upstate new york who have been very important because property taxes are very high there. theyve ca...

Arrival because the senate republican leadership wants to turn this tax bill, in effect, into a health care bill by repealing the individual mandate, in effect, turning 13 million people or more off of health care and also exacerbating some of the harms in the republican bill, for example, eliminating retiree deduction for state and local taxes, continuing the elimination of deductions for interest paid on college loans. there are a variety of -- >> you dont think its going to pass? >> i think i...

Taxes might cause an exodus from new york, losing his spot as the u.s. and world financial capital? >> weve addressed this. a very minimum number of people itemize their deductions but ive says a few times today. i feel like a broken record today. the president is focused on the principles he laid out and making sure we get the most tax cuts possible for the people of the middle class and for most americans, and thats what hes been focused on. ill take one last ye. >> senator johnson, republican...