How Far Can the State Of California Go to Change The GOP Tax Bill?

GOP Tax Bill

For years, Democrats in the state of California have undergone financial exploitation. Organizations rely on their accountants to go through the federal tax code and find loopholes.

California and other high-tax paying Democrats are eager to embody a sort of accounting tricks into law.

Senate President Pro Tem Kevin de Leon is planning to incorporate the act, protect California taxpayers, on Thursday. Senate Kevin de Leon objective is to limit deductions for property taxes and local income at $10,000. There was a time when these deductions were limitless saving taxpayers more than $100 billion.

Senate Kevin de Leon has been working on legislation in coordination with UCLA law professor Kirk Stark. These laws would allow Californians to pay their taxes as if they are charitable donations to the state. The paid taxes would go into a special fund enabling the state to credit taxpayers.

Primarily, the legislation comes across as a short-term solution likely to get shut down by Trumps administration, eliciting another lawsuit. Even though de Leon has been making rounds on cable TV networks, there remains cynics.

De Leon’s passion to do something is understandable. California which is already a donor state should not continue to hand over more money, particularly knowing it will certainly and without a doubt line the pockets of the rich. What California needs is a logical solution that will counterbalance some of the damages brought about by the existing tax legislation.

Thousands of people across the state prepaid their property taxes last week hoping to save money before January 1 when the tax overhaul will kick in. They will be forced to wait for a few months to find out if it worked.

For there to be a long-term solution, Democrats have to make a tough decision; this is whether to replace targeted taxes on services used by wealthier people or payroll taxes with income taxes paid by employers.

On Wednesday, Gov. Andrew Cuomo announced vague plans to sue the federal government on the accounts that tax law is unfair in New York. Governor Cuomo said that the US federal government had waged an economic civil war to the state governments and that the bill was aimed at hurting his constituents in New York.

These may not be desperate times, but they are undoubtedly unusual times and require exceptional measures. Next week, Gov. Jerry Brown is set to release his budget which ought to have some proposals.
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