US President Donald Trump speaks to reporters before departing the White House in Washington for New York yesterday. Celebrating their Senate victory, Republican leaders predicted the tax cuts would encourage US companies to invest more and boost economic growth. One was to make state and local property tax deductible up to $10,000, mirroring the House bill. The Senate previously had proposed entirely ending state and local tax deductibility. "The tax reform measure that passed the Senate is negative overall for state and local government finances.

Source: Otago Daily Times December 02, 2017 19:52 UTC