Deduction Elimination News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Let's talk about that for a moment because recently, this deduction elimination of the state and local taxes has been a debate. where are you on that? is that going to holdup this bill? >> secretary: maria i don't think it's going to holdup the bill and as you know i've had the opportunity to work with the president for over the last year and a half during the campaign on tax reform. its been his top priority. i've been working on this since january, and we understand the issue on state and local deductions. as i said i've lived in california, new york and i know the impact on both those econo...

Call this a plan, especially when that item i just mentioned to you, the single biggest deduction elimination that's in there, which is the elimination of state and local taxes, it's not actually specified on this piece of paper. the only reason i know it is that the treasury secretary answered a question about it in the briefing i. >> that's right. i think the fact that we're seeing this plan today has a lot more to do with the fact that it's day 98. we're two day away from the 100 day mark, and trump has virtually nothing to show for his entire presidency. i think what he wanted to do is int...

Schedule a, under this trump plan there are a whole bunch of things people would lose. do you want to say plan? this isn't a plan. this is con artistry. >> leer the two words that don't apply, adam. and it's the reason i crossed out the word "reform." this is not tax reform. you could turn this into that with collaboration, it could come out in tend as tax reform. it's not what it is now. it's a tax cut. and it's not plan. it's really hard for those of white house have ever seen what a plan looks like on paper to call this a plan, especially when that item i just mentioned to you, the single b...

Even democrats in the senate. >> the problem and we don't know how this is going to turn unions are pulling the president far to the left. if the president were to move on significant tax increases. republicans would make him pay with sweeping changes to entitlement reforms and that's not what the unions want. bill: what i heard from mccarthy is you have to do overall tax reform. do you think that this president has shown the inclination to doing a big broad tax reform deal? >> i think this time around he realized it's the only way to find common ground. if you remember in his jobs plan that h...