Republican Sen. John McCain announced his support Thursday for the Senate tax reform bill, boosting the chances for passage of the sweeping legislation as it faces a likely final vote within hours. “After careful thought and consideration, I have decided to support the Senate tax reform bill," the Arizona senator said in a statement. The Senate’s tax plan would eliminate state and local tax deductions – meaning taxpayers in high-tax states would lose a write-off. The Senate’s tax plan also includes a repeal of the individual mandate, the ObamaCare requirement for Americans to have health care. The Senate tax reform measure would leave the mortgage deduction pretty much alone, capping it at $1 million.

Source: Fox News November 30, 2017 16:03 UTC