11-06-2017, 05:18 PM
(11-06-2017, 04:53 PM)Belsnickel Wrote: Yeah, it's a very convoluted plan. Didn't I read the NFIB even came out against it because of some of the things you're point out? I'd be interested to see what the Chamber of Commerce has to say, haven't looked it up, but I know they rep large and small alike, so it's a tough spot for them.
I haven't really read much analysis on it. It's pretty punitive to higher taxed states, so I wonder if it can even get thru the House when Republicans from CA, NY, etc can't possibly vote for it.
Although the elimination of state tax deduction is interesting. Since we're always told how deductions are welfare, then higher tax states are being subsidized by lower ones.
By my rough calculation, the muni bond deduction would raise costs of financing about 25%. Of course, financing is a lousy way to do these projects....too bad nobody is fiscally responsible enough to run budget surpluses that accrue for infrastructure projects - frickin' politicians just can't keep their hands off a surplus.
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