US Senate Aide: Tax bill would repeal federal deductions for state and local income

Eren Sengezer FXStreet

Reuters is out with fresh headlines from Republican Senators on details of the tax proposal.

Republican Senator Cassidy says Senate Republican tax bill would repeal federal deductions for state and local income, property and sales taxes.

Republican Senator Cornyn says Senate Republicans are looking to avoid one-year delay in the corporate tax rate reduction in proposed tax bill.

Republican Senator Cruz says the Senate tax proposal would not repeal the adoption tax credit.

Republican Senator Hoeven says Senate proposal keeps seven tax brackets, lowers top rate to 38.5 percent.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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