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Reply to "Republican Tax Bill - the final Bill"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Rubio is opposing the bill. [/quote]till he folds...I think a lot of Florida's income is property taxes, a cap on the deductibility may make Florida less appealing to rich retirees etc[/quote] Florida has homestead deductions for FL residents that significantly lower the property taxes. No income cliffs like in some other states. If you have a house in FL and it's not your residence you might pay 20 or 25% more than a long term resident. The volume of PR's is straining affordable housing, schools, etc. https://www.nytimes.com/2017/11/17/us/puerto-ricans-orlando.html "Some Puerto Rican community leaders are encouraging the newcomers to head north to New York or Philadelphia, where state benefits are more robust and there are fewer new arrivals." Some areas in states have had to change affordable housing-section 8- etc because people stay longer with their relatives etc than the leases permit. So yes-Rubio is looking for more cash for low income people. That is an entitlement and he wants their FICA payments cut. https://www.huffingtonpost.com/entry/marco-rubio-tax-bill_us_5a32d0efe4b040881be8dd4e "Rubio and Sen. Mike Lee (R-Utah) want a more progressive change. Currently, the credit is only partially refundable, meaning if it pushes a family’s tax bill beneath zero, they can’t necessarily get the full value of the credit as cash. Rubio and Lee want all or most of the expanded credit to be refundable, and for parents to be able to count payroll taxes taken out of their wages against their taxable income. That way, more could get cash payments from the refundable credit. " So what he wants is an above the line adjustment to get to AGI only it's fica. Like teachers 500 in the senate plan [/quote]
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