Jul 12, 2017

Trump's tax-deduction plan is a GOP gamble

Carolyn Kaster / AP

A part of President Trump's tax plan has both Republicans and Democrats unsure of where to stand, according to a report from Bloomberg. The proposal to cut the state and local tax deduction has ups and down for both parties.

Republicans could benefit: Cutting the deduction could raise approximately $1.3 trillion over the next 10 years, "offsetting steep individual and corporate rate cuts Trump and Republicans are eyeing." Also, taxes would be shifted onto Democratic states like New York, New Jersey, and California.

But: This could have negative implications on citizens in their districts. Losing the deduction could "make standard deductions more attractive," resulting in a decrease of local home values. Bloomberg reported that home prices could fall by an average of 10 percent.

Democrats could benefit: If Republicans lose popularity due to the proposal, which is possible considering some of the vulnerable districts went blue during the 2016 election.

But, Democrats are stuck: Keeping the deduction as-is would mean they're "supporting a tax break for some of the wealthiest Americans," something they've normally argued against.

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Updated 1 hour ago - Politics & Policy

U.S. cities crack down on protesters

The scene near the 5th police precinct during a demonstration calling for justice for George Floyd in Minneapolis on Saturday. Photo: Kerem Yucel/AFP via Getty Images

Major U.S. cities have implemented curfews and called on National Guard to mobilize as thousands of demonstrators gather across the nation to continue protesting the death of George Floyd.

The state of play: Hundreds have already been arrested as tensions continue to rise between protesters and local governments. Protesters are setting police cars on fire as freeways remain blocked and windows are shattered, per the Washington Post. Law enforcement officials are using tear gas and rubber bullets to try to disperse crowds and send protesters home.

Updated 1 hour ago - Politics & Policy

George Floyd protests: What you need to know

Photo: David Dee Delgado/Getty Images

Clashes erupted between police and protesters in several major U.S. cities over Saturday night as demonstrations over the death of George Floyd and other police-related killings of black men spread across the country.

The big picture: Floyd's death in Minneapolis police custody is the latest reminder of the disparities between black and white communities in the U.S. and comes as African Americans grapple with higher death rates from the coronavirus and higher unemployment from trying to stem its spread.

Updated 3 hours ago - Politics & Policy

In photos: Protesters and police clash nationwide over George Floyd

A firework explodes behind a line of police officers next to the Colorado State Capitol during a protest over the death of George Floyd in Denver on May 30. Photo : Michael Ciaglo/Getty Images

Police used tear gas, rubber bullets and pepper spray as the protests sparked by the killing of George Floyd continued nationwide into early Sunday.

The big picture: Police responded over the weekend with force, in cities ranging from Salt Lake City to Atlanta to Des Moines, Houston to Detroit, Milwaukee to Washington, D.C., Denver and Louisville. Large crowds gathered in Minneapolis on Saturday for the fifth day in a row.