Cohn Says State, Local Tax Deductions 'Not a Red Line'

The video discusses a proposed tax plan focusing on curtailing state and local tax deductions to fund tax cuts. It highlights the impact on high tax states and the goals of the plan, which include lowering rates and simplifying the tax code by removing loopholes. The discussion also covers the effects on American families, particularly the wealthier 25% who use itemized deductions. The video concludes with the non-negotiable aspects of the proposal, emphasizing the importance of maintaining business tax rates and providing tax cuts for middle-income Americans.

What accommodations are mentioned for members from high tax states?

How does the proposed tax plan affect deductions for state and local taxes?

What are the main goals outlined in the tax plan discussed?

What percentage of families in America use itemized deductions?

What is the stance on the business tax rate in the proposed tax plan?