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Concession on property taxes added to House plan

House Ways and Means Chairman Kevin Brady. Photo: Alex Brandon / AP

"Bowing to concerns from Republican House members in high-tax states, the chamber's chief tax writer said he'll preserve a federal income-tax break for property taxes," per Bloomberg's Ben Brody.

  • House Ways and Means Chairman Kevin Brady said in a statement Saturday afternoon: "At the urging of lawmakers, we are restoring an itemized property tax deduction to help taxpayers with local tax burdens."