DON’T LIVE IN A BLUE-LEANING BIG CITY
In addition to eliminating many other itemized deductions, the Trump tax plan imposes a cap of $10,000 on state and local tax deductions on federal returns. This won’t much affect taxpayers living in states and localities without significant income tax rates, while those in high-tax coastal states with expensive housing markets where property taxes often exceed $10,000 — areas that coincidentally tend to vote Democrat — are more likely to see their federal payments spike.