A quick look at some of the biggest tax changes for Californians

Congressional Republicans are framing their tax cut bill as a Christmas gift that will give Americans an average tax cut of $2,059. For Californians, especially in the wealthier areas along the coast, the situation isn’t as clear cut.

When the measure comes up for a vote in the House on Tuesday morning, it’s expected to pass along party lines. At least two Republicans say they will join Democrats in the California delegation to oppose the plan because they fear it will hurt their constituents’ bottom line.

Here’s a quick look at what some of the biggest changes in the tax bill might mean for average Californians.

State and local tax deduction, standard deduction and new tax brackets

A third of California taxpayers take an average state and local tax deduction of $22,000. But the GOP bill will cap the deduction going forward to $10,000.

For many Californians who deduct their state and local taxes on their federal return, this would amount to a tax hike. …

Click here to read the full article from the Los Angeles Times

Comments

  1. At least two Republicans say they will join with Democrats in the California delegation to oppose the plan just about says it all.

  2. It’s not the bill that’s the problem it’s the state that’s the problem, fix CA taxes and the bill will help the middle class. CA liberal loon politicians are truly pathetic on how they like to shun the problem on someone else rather than look at the F&*ked up conditions they’ve created and continue to create for the state.

  3. Brenda Torres says

    It’s not the Federal Taxes that is killing California, it’s the State Taxes!!! And Governor Moonbeam is wanting to raise them even more so he can fund his Bullet Train to Nowhere instead of fixing our Infrastructure, Roads and Dams, etc….

  4. Larry Evans says

    Sorry Sarah, I’ve learned it’s important to consider the source and LA Times is not a source I pay any attention to. I don’t have time to read unbiased reports let alone “fake news”. I know that term is becoming “irritating” but that’s what it is. I’ve just spent way more time than I planned on this item.

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