When are we going to see the new rate schedule? How has the normally porous government kept this a secret? My God everything leaks. Why not this? This actually affects peoples’ lives directly.
Not until the conference committee resolves any differences between the House and Senate bills.
They have told us that the standard deduction will be "doubled" - but don't believe even that. This is a bone thrown to the public, but all aspects are still in negotiation. But ending the deduction for state and local taxes? That is a certainty in the bill. When the Democrats introduced an amendment to stop it, it failed 51-47.
So Congress is going to screw the middle class over on that on. There is talk of an income layer of limiting the deduction, but I don't have a lot of hope on that. Congress wants their pound of flesh of taxes from someone in order to give corporations a massive break. And to "pay for it" they are targeting homeowners and the middle class.
Trump indicated he was willing to ease this burden - but I have heard nothing from him on this in recent days. That means to me that he is so desperate for a "win" in Congress that he will sell out 44 million American taxpayers in order to get it.
When taxpayers figure out how much they have been screwed over, they will not be happy, to say the least.