Republicans are once again set to pass a bill that will add $1.5 trillion to our national debt, which already equals 77% of our economy.
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The bill caps the state and local tax (SALT) deduction at $10,000 but the average California household has a deduction of $18,400.pic.twitter.com/1asSGCz3QH
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It also caps mortgage interest deductions of to $750,000. This year, 8.2% of new mortgage loans in San Diego were more than the proposed cap.pic.twitter.com/1uTsZdetiv
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And after CA just experienced some of the worst wildfires in recent history, the bill eliminates deductions for personal losses from wildfires.http://www.latimes.com/politics/la-pol-sac-skelton-republican-tax-bill-wildfires-20171218-story.html …
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I've explained how this anti-growth bill will hurt our economy on the House floor:https://www.youtube.com/watch?v=bvQ494E4rNI&t=2s …
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I’ve sat down with
@KUSINews to explain how the#GOPTaxBill will raise taxes for Californians and add trillions of dollars to our already high national debt.https://www.youtube.com/watch?v=L0lVqChedx4&index=1&list=PLuv0hBsxpbp6KEdmhudHHlFqv7gfgLe4y …Show this thread
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It pops a cap in the little guy.The hedge fund guy, slumlord,+ bank acct with 11 million or more get more.If your name was not called, you+your children will pay for the 1.5Trillion$ giveaway to the rich! Any questions?
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Which means 100% of the loans closed this year will be unaffected as they are grandfathered in. Or 91.2% of loans next year will be unaffected. Only big loans affected. I'm affected and still support the bill.
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