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Thursday - October 26, 2017 7:44 pm

A step closer to tax changes

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Local GOP chair "cautiously optimistic" on tax reform.

Huge tax reforms in America are closer to reality today.

A budget vote by republicans in congress on Thursday basically means a coming tax bill can get passed without any democratic votes.

La Crosse county republican party chair Bill Feehan said he's "cautiously optimistic" reforms can actually be approved. He said those reforms are necessary to spur economic activity.

"Yes there's a lot of wrangling over different types of deductions but one that's clear is when we let people who work keep more of that they earn, they spend it," he said.

The coming tax measure would reportedly decrease the number of tax brackets from seven to three double the standard deduction for married couples filing jointly to $24,000 and drop the corporate income tax rate from 35% to 20%.

It also does away with the state and local tax deduction, used by those who itemize their deductions.

The budget measure in the house on Thursday passed on a 216-212 vote, with 20 republicans voting with democrats against the measure.  

Mitch Reynolds

Mitch Reynolds is the News Director at Midwest Family Broadcasting. He covers the internecine agonies of La Crosse city hall. He really likes basketball.

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