Burman discusses state and local tax deduction limit in TaxVox blog

Len BurmanLen Burman, Paul Volcker Chair in Behavioral Economics, and co-author Frank Sammartino discuss the Tax Cuts and Jobs Act (TCJA) state and local taxes (SALT) deduction limit in their article, "State Responses to the TCJA’s SALT Deduction Limit May Be Costly and Favor High-Income Residents," published on the Tax Policy Center's blog, TaxVox. "If widely adopted and successful, the plans could significantly reduce federal revenue and most of the benefits would go to taxpayers with high incomes," Burman and Sammartino say. "They may be legally defensible, but they raise important questions about the interaction between federal and state taxes that policymakers at all levels need to address." 02/02/18