A federal tax outline unveiled Wednesday by President Donald Trump’s administration calls for ending the deduction on state and local taxes, eliminating a provision used more in Maryland than anywhere else in the nation.
Forty-five percent of Maryland filers took the state and local tax deduction in 2014, the highest share in the country, according to an analysis by the Tax Policy Center. The average amount of the deduction was $12,400, according to the analysis.
In a briefing about the proposal Wednesday, Treasury Secretary Steven Mnuchin said the plan calls for eliminating all personal income tax deductions except for those granted for mortgage interest and charitable deductions. In exchange, the administration plans to lower the overall tax rate.
Click here to read the rest of the article written by John Fritze over at the Baltimore Sun