Cohn Ignores the Art of the Deal With Flexibility on State Tax Break
Cohn Says State, Local Tax Breaks 'Not a Red Line'
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White House economic adviser Gary Cohn said the Trump administration is willing to negotiate on one of the core revenue raisers in the Republican tax overhaul framework -- ending the state and local tax deduction -- potentially exacerbating the deficit impact of the plan.
Cohn told Bloomberg TV on Friday that ending the state and local tax deduction is "not a red line" for the White House in a tax revamp. The GOP plan unveiled Wednesday contains an estimated $5.8 trillion in tax cuts.