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Prepaying Your Property Taxes? I.R.S. Cautions It Might Not Pay Off

Some states have encouraged residents to try to skirt the new cap on state and local tax deductions. Last week, Gov. Andrew M. Cuomo of New York signed an executive order paving the way for residents to prepay their property taxes.“We’re doing this to circumvent the bill the president just signed?” Mr. Cuomo asked at a Friday news conference […]

New York Today: New York Today: The Year in (Good) News

Weather.init(); }()); In weather news today, there’s both good and bad. The bad: It’s pretty cold. The high is near 39, but it will feel below freeing for most of the day. The good: The sun will be out and shining. The mercury jumps into the 50s tomorrow, but rain enters the forecast. […]

How Republicans Rallied Together to Deliver a Tax Plan

There were crucial steps that ensured passage, including a deficit bargain struck between Senators Patrick J. Toomey and Bob Corker in September, pressure from Mr. Trump on a controversial push to tweak retirement savings in the bill and, in the Senate, an early and crucial endorsement from John McCain of Arizona, the Republican wild card whose late defection killed the health care bill.“There was never a moment where I thought, ‘Oh, my gosh, we’re going to fail at this,’” Mr. Toomey said in an interview. “There were many moments I thought, ‘This is still an open question.’”What there never was, in the minds of Republican leaders, was doubt the bill would pass — not even in the scattered moments over the past several weeks when individual senators held it up to demand changes.“At the end of the day,” Mr. McConnell said in an interview, “I didn’t have a single person say, ‘If you don’t do this, I’m going to vote no.’”PhotoSenator Bob Corker, Republican of Tennessee, in October in Washington.Credit Tom Brenner/The New York TimesThe House approved the final version of the bill on Tuesday afternoon over the opposition of 12 Republicans and every Democrat who cast a vote. Because of a procedural issue, the House will have to vote again on Wednesday, but the bill is expected to land on Mr. Trump’s desk within days.On the House floor, Speaker Paul D. […]

Fact Check: Take Claims About State and Local Tax Deductions With a Grain of Salt

The deduction is claimed by taxpayers in every state, though larger percentages of taxpayers in the Northeast and the West benefit from it.About 46 percent of tax returns in Maryland — the state with the highest share in the country — used the provision and averaged almost $13,000 each in deductions in 2015, an analysis by the Government Finance Officers Association shows. On the other end, only 17 percent of tax returns in South Dakota took advantage of the provision, and averaged $6,000 each in deductions.Taxpayers in two states, California and New York, claimed more than 32 percent of the total deduction in 2013, the Tax Policy Center estimated.This alone does not mean that Indiana is bankrolling New York. Larger states, like New York and California, are getting bigger subsidies through the state and local tax deduction “because they’re paying substantially more in federal taxes,” said Kim Rueben, an author of the Tax Policy Center report.Multiple studies show that most states that are considered to be a “net donor” — those that pay more in taxes than they get back from Washington — also benefit the most from the state and local tax deduction.Newsletter Sign UpContinue reading the main storyGet the Morning Briefing by EmailWhat you need to know to start your day, delivered to your inbox Monday through Friday.Thank you for subscribing.An error has occurred. Please try again later.You are already subscribed to this email.View all New York Times newsletters.New York State’s comptroller, in an October report, found that 13 states, including New York and California but not Indiana or Iowa, paid more in federal taxes than they received in federal spending in the 2016 fiscal year. In nine of those states, all of which voted for Hillary Clinton over Mr. Trump in the 2016 presidential election, at least 30 percent of tax returns claimed the state and local tax deduction.New Jersey — where more than 40 percent of taxpayers took the deduction — experienced the largest deficit per capita. […]

Republicans Open to Banning ‘Bump Stocks’ Used in Massacre

Mr. Cornyn said the continuing legality of the conversion kits was “a legitimate question,” and told reporters he had asked Senator Charles E. Grassley of Iowa, the Judiciary Committee chairman, to convene a hearing on that issue and any others that arise out of the Las Vegas investigation.Other Republican senators, including Lindsey Graham of South Carolina, Orrin G. Hatch of Utah and Marco Rubio of Florida, said they would be open to considering legislation on bump stocks.“We certainly want to learn more details on what occurred in Las Vegas,” Mr. Rubio said, “and if there are vulnerabilities in federal law that we should be addressing to prevent such attacks in the future, we would always be open to that.”In the House, Representative Carlos Curbelo, Republican of Florida, said he was drafting bipartisan legislation banning the conversion kits. Representative Mark Meadows, the head of the conservative Freedom Caucus, also said he would be open to considering a bill, while Representative Bill Flores, Republican of Texas, called for an outright ban.“I think they should be banned,” Mr. […]

Bills to Protect Mueller Are Bipartisan, but the Path Forward Is Uncertain

NYT

See the rest here: Bills to Protect Mueller Are Bipartisan, but the Path Forward Is Uncertain

Conservatives Recoil at Trump’s Accommodation With Democrats Over DACA

“At this point, who doesn’t want Trump impeached?” said the conservative writer Ann Coulter as she took to Twitter to excoriate the president. “If we’re not getting a wall, I’d prefer President Pence,” added Ms. Coulter, who met recently with the president in the Oval Office and warned him of the perils of not keeping his word on immigration, and most notably the wall.PhotoLaura Ingraham, the conservative radio host, at the Republican National Convention in Cleveland last year.Credit Stephen Crowley/The New York TimesLaura Ingraham, the conservative radio host who has until now been sparing in her criticism of the president, told her listeners on Thursday that the political cost Mr. Trump and the Republican Party would pay would be steep […]