SALEM, Ore. — President Donald Trump’s federal tax overhaul is a short-term boon for most states, but one is set to miss out entirely: Oregon. State Rep. Knute Buehler, a leading Republican candidate, said it amounts to “a massive tax hike.”The federal tax law that sparked the fight will mean extra money for most states. Unlike most states, Oregon takes into account federal deductions when it calculates residents’ state taxes. Many other states copy information from federal tax forms to calculate state taxes, but exclude federal deductions. The Democratic plan would not interfere with claiming the federal deduction but would block it from carrying over onto residents’ state taxes.

Source: National Post March 30, 2018 06:33 UTC