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It’s not widely known, but states with high taxes technically get a discount from their federal taxes. Lower-tax states are left to cover the difference. This is because of the “State and Local Tax Deductions” in the federal tax code. ALEC Chief Economist, Jonathan Williams joins to discuss what this means and what state legislators can do.
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By American Legislative Exchange Council4.8
1818 ratings
It’s not widely known, but states with high taxes technically get a discount from their federal taxes. Lower-tax states are left to cover the difference. This is because of the “State and Local Tax Deductions” in the federal tax code. ALEC Chief Economist, Jonathan Williams joins to discuss what this means and what state legislators can do.
Support Across the States