House passes bill to lift $10,000 cap on state and local tax deductions
Busakorn Pongparnit | Moment | Getty Images
The Democratic-controlled House passed a bill on Thursday that would do away with the $10,000 limit on the itemized deduction for state and local taxes for two years.
Legislators narrowly voted in favor and did so largely along party lines: 218 to 206.
The measure, dubbed the “Restoring Tax Fairness for States and Localities Act” or HR 5377, proposes…