Off to Texas, I guess
Some states have an income tax and a property tax (e.g., Arkansas), and some states (e.g., Texas) only use a hefty property tax. Either way, the result is the same to the taxpayer.
Having returned to Arkansas last year after living in Texas for decades, I can state from experience that your home state will get the money to run the government one way or another.
I was amazed to read in Sunday’s paper that my former congressman and chairman of the Ways and Means Committee, Kevin Brady, has now decided to allow property-tax deductions in the coming tax bill, but not state income-tax deductions. This means that citizens of states that exclusively use a property tax will have a much larger advantage in the tax bill, and whether intentional or not, the constituents of Kevin Brady will gain a big advantage over the citizens of states that use an income tax.
The citizens of Arkansas should demand a more balanced approach to national tax deductions. For example, the deduction could be a combination of property tax and income tax with some sort of cap on the deduction. This would remove the disadvantage for citizens of income-tax states while the cap would allow Congress to achieve the increase in revenue that they are looking for.
PAUL SWEPSTON Hot Springs