It is time for Rep. Jeff Denham to offer his opinion on some of the tax reform proposals in Congress.
a) Is eliminating state and local tax deductions from federal taxes good for Californians? It might help in some states that don’t pay state taxes, but will reductions in tax brackets offset the deduction of state taxes?
b) Is reducing or eliminating the tax-deferred contributions that can be made to their 401(k) accounts good for Californians? Maybe increasing or lifting the current cap on 401(k) contributions would encourage more savings for retirement.
c) Is reducing or eliminating the mortgage home interest deduction good for Californians? Will more people buy homes without this deduction?
d) Is increasing the federal deficit in the trillions over the next decade in favor of tax cuts good for Californians?
If we are going to have an open debate, we need to know where our Representative stands on these issues and know what he will support.
Randy Little, Turlock