“Losing the property tax duction screws me, and I bet it screws many more working class people.”
Not really. Since the personal deduction doubles, few pay so much in property taxes that the doubling of the deduction doesn’t cover it.
As a married couple, we will see $12,000 more in the standard married deduction, yet, we pay about $3,500 in property taxes, giving us an $8,500 benefit.
Since the tax rates are also being reduced, that also reduces taxes.
Most people are in that situation.
property tax is a TAX and now we’ll be paying federal incomes taxes on it...insane and totally unjust...