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Republicans back down on ending state tax break

Republicans will keep "some form" of the tax deduction for state and local taxes, GOP Rep. Chris Collins told Bloomberg. ""It's ironclad that you will not see a full repeal, which was initially within the framework," he said.

Why this matters: A repeal of that deduction would face intense opposition from those representing high-tax states like California, New York or New Jersey.

Go deeper: Here's a chart that shows vulnerable Republicans from districts with large numbers of state and local deductions.

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