Ending Deductions News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Financial expert dan, dan, thanks for joining us this morning. >> thanks. pete: president releases plan, simplification of the tax code, reduction of rates u but one of it includes ending deductions for state and local income taxes, tell us why different states would react differently to that plan? >> if you have a state, high-taxed state, blue states, california, new york, new jersey, connecticut. they have very high tax rates. so what's going to happen is those -- people from those states are not going to get the benefit of a federal tax deduction for those high taxes that they had been payi...

Are not going to have a place in the government anymore. abby: let's talk about tax reform. that is on everyone's minds, including the president. seeing him out there campaigning for tax reform. you feel the enthusiasm. this is something that he understands and something he wants so badly to get done. we are already hearing criticism though from some republicans, including peter king about ending deductions for state and local income taxes. how do you see this playing out. president has made this clear republicans can't get their act together and get this done. i'm going to gowork with the dem...

Latest updates on this topic from reliable sources.

Latest updates on this topic from reliable sources.