California Will Be ‘Single Biggest Loser’ Under Trump’s Tax Plan, State Senator Says

Many Californians face a big financial hit under the Republican tax plan, which would eliminate a major tax break that benefits state residents more than those anywhere else in the U.S.

The federal deduction for state and local taxes allowed Californians to reduce their taxable income by $101 billion in 2014, according to an analysis by the nonpartisan Tax Foundation.

The tax outline released Wednesday by President Trump and top congressional Republicans would ax the break, which largely benefits residents in states that are Democratic strongholds.

“Republicans in Washington have once again zeroed in on California to punish us and make our state the single biggest loser in their reckless tax scheme,” said Senate President Pro Tem Kevin de León (D-Los Angeles).

Read the full story on LATimes.com