Northern Wyoming Daily News - Serving the Big Horn Basin for over 100 years

Tax Bill: What's in, what's out, what happens

 

December 21, 2017



WASHINGTON (AP) — So what’s in the massive $1.5 trillion Republican tax package, what’s not and what does it mean for most Americans?

The complex legislation, weeks in the making, scales back the popular deduction for state and local taxes, bad news for Americans in some of the wealthiest suburbs of New York, New Jersey and California. The bill preserves the deduction for medical expenses, rebuffing an effort by House Republicans to eliminate it.

The bill provides steep tax cuts for businesses and wealthy families, and more modest reductions for low- and middle-income families.

Here a...



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