Changes would probably have varying impacts across states and could have considerable effects on state revenue.
The legislation passed 51-49, without Democratic support. One credit rating agency described the bill as "negative overall for state and local government finances."
The state and local tax deduction remains a marquee item. But there are also notable amendments filed involving tax credits, marijuana and municipal bonds.
Sen. Susan Collins is proposing to change state and local tax deduction provisions in the bill to mirror House legislation.
Preservation advocates, small town mayors, commercial developers and builders argue the credits more than cover their costs by generating jobs and tax revenue.
New Jersey’s former budget director and comptroller digs into expenditure data from a recently released report from the National Association of State Budget Officers and has six key observations.
GOP tax legislation in the Senate could get a floor vote before the end of the week.
Ahead of a key vote this week, senators from states where tax cuts busted the budget want the plan to include a “backstop” in case the party’s rosy revenue predictions don’t come true.
The high court might end a “failed statutory regime” that Nevada currently enjoys.
As Chicago dangles $1.32 billion in personal income tax diversions in hopes to land the HQ2, a bid from California's fifth-largest city promises something very different.
“It's a huge burden,” the executive director of the National Conference on Public Employee Retirement Systems said as he discussed the tax proposal.
A new data dashboard features metrics like median credit scores, and delinquent debt levels for residents in 60 U.S. cities.
Meanwhile, discussions continue in the infrastructure community about the promise and limitations of public-private partnerships.
The House on Thursday approved its legislation in a surprisingly drama-free vote. But hurdles await in the Senate.
Whether representing a booming urban center, a ritzy suburb, a steel town struggling for growth, or an overtaxed collar county of Chicago, local officials are concerned about the GOP tax plan.
Affordable housing advocates endorsed the changes. But they also continued to voice worries about the fate of private activity bonds.
Americans think Trump and Congress should tackle the opioid epidemic, hurricane relief and immigration reform, but the majority of the public does not think a tax overhaul should be a top priority.
Tax credits for historic buildings and low-income communities have served as important economic development tools in some places. But will they survive a tax overhaul?
Republicans in the chamber unveiled a tax overhaul proposal that deviates from House legislation in other areas as well.
House Ways and Means Democrats and Republicans sparred Tuesday over the so-called SALT deduction.
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