House Ways and Means Chairman Kevin Brady (R-Tex.) The House bill excludes deductions of interest on loans larger than $500,000; the Senate bill keeps the current $1 million threshold intact. House Ways and Means Chairman Kevin Brady (R-Tex.) Rep. Mimi Walters (R-Calif.) represents a high-tax Orange County district but voted in favor of the tax bill. Walters acknowledged that her constituents have been concerned about the legislation, particularly the state tax and local taxation issue.

Source: Washington Post December 05, 2017 21:48 UTC