Brady: GOP tax reform bill has been amended to allow property tax deductions
WASHINGTON- House Ways and Means Committee Chairman Kevin Brady (R-Texas) on Saturday said the GOP tax reform bill has been amended to include a provision allowing property tax deductions.
“At the urging of lawmakers we are restoring an itemized property tax deduction to help taxpayers with local tax burdens,” Brady said in a statement.
Brady’s statement comes just two days after the House narrowly approved the Senate version of a budget resolution that paves the way for tax reform legislation.
Twenty Republicans voted against the budget resolution, most of whom represent highly populated states that might have been adversely affected by the proposal to eliminate state and local deductions.
Three more defections would have resulted in the budget resolution being defeated.
Brady has said he expects to release the text of the legislation on Wednesday.
House GOP leaders have said they are hoping to pass tax reform legislation before Congress adjourns for its one-week Thanksgiving recess.
This article is republished with permission from Talk Media News
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