The National Governors Association (NGA), the Council of State Governments, the National Association of Counties, the National Conference of State Legislatures, the National League of Cities, the U.S. Conference of Mayors and the International City/County Management Association issued a statement on the elimination of the state and local tax deduction from the President’s recent tax-reform proposal.
Specifically, the statement urges Congress to maintain the state and local tax deduction for municipal bond interest, which has been part of the tax code since it was introduced in 1913.
Failure to do so would represent double taxation, the statement says.
