Will the GOP tax bill cost Donald Trump 'a fortune

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Will the GOP tax bill cost Donald Trump 'a fortune
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When we asked the White House for additional details about how the law would hurt Trump, they cited the repeal of the state and local tax deduction, which allows taxpayers to deduct all or some of their state and local tax burden from their federal taxable income. As a wealthy resident of New York City, Trump would likely face high tax state and local rates. (At the Nov. 30 press briefing, White House Press Secretary Sarah Huckabee Sanders cited the elimination of deductions as one possible source of a tax increase for the president.)

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