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A millionaire tax rethink? Killing the state and local tax deduction makes an impression in New Jersey Source: The Wall Street Journal

The Republican tax reform must still pass the Senate, but already it’s having a political impact in at least one high-tax, ill-governed state. Democrat Steve Sweeney, president of the New Jersey Senate, said last week that the GOP decision to eliminate the state and local tax deduction could throw a new tax increase on millionaires into doubt.

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