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New Republican Tax Plan Offers Corporate Tax Cut, Limits Mortgage Deductions

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House Speaker Paul Ryan R-Wisconsin (Photo: Tasos Katopodis/AFP/Getty Images)

NewOn Thursday Republicans unveiled the first significant overhaul of the nation’s tax code in 30 years, after weeks of internal debate. The bill, which is estimated to cost $1.51 trillion over a decade, highlights a corporate tax reduction and a permanent repeal of estate taxes. To pay for the tax cuts, Republicans are targeting some popular deductions including state and local taxes and medical expenses, as well as capping mortgage interest deductions. It’s already facing pushback from Democrats. We discuss the plan’s implications and what it means for California.

Guests:

Peter Coy, economics editor, Bloomberg Businessweek
Kathleen Pender, business columnist, Net Worth, San Francisco Chronicle
Emily Cadei, Washington correspondent, Sacramento Bee

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