cnsnews
Terence P. Jeffrey | October 31, 2017 | 11:05 AM EDT
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https://www.cnsnews.com/news/article/terence-p-jeffrey/tax-plan-may-kill-deduction-taken-95-itemizers(CNSNews.com) - The tax plan the House Ways and Means Committee will release on Wednesday may eliminate the federal income tax deduction people are currently permitted to take for the state and local income or sales taxes they have paid.
That deduction, according to the latest Internal Revenue Service data, was taken by 42,502,130 tax filers—or 95 percent of the 44,671,840 tax filers who itemized their deductions in tax year 2015.
The deduction allowed those 42,502,130 tax filers to reduce their federal taxable income for 2015 by a combined $351,163,796,000.