I am a CPA in CA. It was a brilliant move by Trump. 80% of taxpayers get a tax break. CA, NY, IL, aren't going to vote for Trump anyway. No way. No how.
I've re-calculated estimates of several client's 2018 taxes based on their 2016 income. Many would be paying less or not that much higher taxes. Before you complain, you should do your own calculations.
Be mad at the high-taxed states, not Trump.
“CA, NY, IL, aren’t going to vote for Trump anyway. No way. No how.”
You completely missed my point. I am referring to House seats, not the POTUS election.
And, as an example: Tom McClintock’s district has an average household income of nearly $100k and 53% of the households in his district itemized and took the SALT deductions in 2016.
There are several more Republicans in SoCal in a similar situation.
And it’s not just the “high tax blue states”. There are suburban Congressional districts throughout the US where net taxes will be going up for many high earners in fancy houses.
There will be a penalty exacted.
By all estimates, there’s 20% of people out there who will see a tax increase. I contend the vast majority of them are Republicans.