Congressional Democrats floated fresh proposals on how to increase the federal deduction on state and local taxes, but House and Senate lawmakers were at odds over whether the very rich should be allowed to take the tax break.
Senate Budget Committee Chairman Bernie Sanders -- a Vermont independent who caucuses with Democrats -- and New Jersey Democratic Senator Robert Menendez held a joint press conference on Wednesday to announce they had agreed in principle that people with incomes going up a certain level, roughly $400,000 to $550,000, should be able to take the tax break. The deduction was limited to $10,000 under the Republican tax bill passed in 2017.
