Page 123 - Deductions News Today

Phasing in certain provisions and putting sunsets or phase-out dates on other provisions. one of the more popular tax credits they are putting in the bill, a family tax credit, they are putting the idea of putting a sunset on it and daring future congressing not to extend what they think is a popular provision. and this again gets more complicated on thursday when the senate will introduce their version of the tax bill and trying to get everybody on the same page with that 1.5 trillion price tag...

In. its easy. you close some of the interest interest loop holes and deductions and thats one step reeve new neutrality and thats how youre more fiscal responsible. >> neil: you raise a good point. but you step back and say all of a sudden, every effort you take to make the tax cuts to be paid for is an effort to take them back as far as their umph for the economy. thats the nature of the beast. ken, is it your sense from the people youre talking to that what happened yesterday, republicans are ...

Yeah, but at what cost? if youre going to get rid of all of the deductions and all the things that makes taxes palatable in this country, probably not. >> i think the breaking news of this segment is that angela rye is potentially a persuadable voter. >> what the hell do we have to lose? >> uh, everything. >> keep trying, brian. a wish and prayer, man. thanks, guys, so much. >> thank you. this morning, beijing is rolling out the president for president trump. and despite trashing china quite o...

The battleground in these congressional races in 2018. so i think republicans have a lot to think about. i do think theyll go in, the leaders will go into their caucuses tomorrow and say, we got to pass tax reform because if we dont pass, this is what were going to get if we dont do something. >> im glad you asked that,my yeah you heard what he said about health care. more people cared about health care than thought of. now these same people, these blue state republicans, are going to be asked t...

>> harris: oh! >> stu: the reason is this. the top tax rate, as you know, is going to stay at 39.6%. no cut for that top level. not at all. 39.6. >> harris: theyre losing some deductions, too. >> stu: very important deductions. state and local income taxes. theyre gone! theyre gone! >> harris: if theres a cap on interest rate on your home loan, thats a loss, too. >> stu: theres a cap on the mortgage interest deduction on your home. that cap is cut in half from a million to a half million. upper ...

And healthcare were polling number one for the people of that state. as far as former speaker of the house newt gingrich he published an op-ed in the hill yesterday and he might agree with you on this. he says tax reform is never easy. gop majorities hang in the balance. he writes republicans must not take for granted everyone likes tax cuts. they must fight and win. that victory will only be assured if the american people are with them. republicans who havent come on board with the bill should ...

Should be informed. >> these hearings are massively important. the problem when you hear any of them, its just lawmaker after lawmaker getting on their pedestal speaking, shouting, then you dont see a change. after this we need to see a change. >> tony, thank you for being with us. tony romm from recode. nice to have you in studio with us. stick around, everyone. right now republicans in the house and senate are working on their own tax plans and we are hearing about the big differences betwee...

Gillespie over the top. a win by north ham would be a big step toward rebuilding the party. >>? new jersey, theres a race to succeed governor chris kristie. >> and new york city mayor bill de -- top white house aides are telling democrats on the tax plan. economic adviser gary cohn and mark short head to capitol hill. the plan to woo senate democrats. gop lawmakers logged the bill as a middle class tax gift but democrats saying cutting popular deductions prove otherwise. who wins and loses? earl...

Complaining going on. people say im not getting a tax cut. many people say with mortgage interest capped -- >> come on. >> neil: im telling you what they said. in expensive states like new york, california, illinois, massachusetts where you cant deduct your state and local taxes. will that be a provision as well? >> youll like the senate bill. its similar to the house bill -- >> neil: including no deduction for state and local taxes. >> no deductions for the state and local taxes. should the fed...

Darlene, tell me something i dont know. >> well, this is something you probably do know. but i think its something thats not getting the attention that it deserves. and its the fact that almost seven weeks after hurricane maria slammed into puerto rico, significant numbers of people there are still without electricity and without drinkable water. >> i think we all should know that in spades. anyway, eli? >> well, today on capitol hill, some people caught this, but the house republicans began the...