“Now I’m starting to think, who’s going to want to buy our house here in New York?” Ms. Metcalf said. The tax plan would probably cut taxes for most New Yorkers, at least in the short term. The tax bill would eliminate or make less valuable the tax breaks that encourage homeownership. Without the state and local tax deduction, those plans could face more opposition. The breakneck pace of the latest tax bill left little time for a similar approach.

Source: New York Times December 05, 2017 01:07 UTC