Congressman Amodei a “Yes” on House Tax Bill

Republican Congressman Mark Amodei voted yes for tax reform saying, after having devoted almost the entire week with everyone in his Washington office to determine how this bill would affect individual taxpayers, joint filing taxpayers, and businesses, he concluded that for the vast majority of federal taxpayers in CD-2, this bill results in simplified filing and a tax cut. He adds, “Presently, only 25% of Nevadans itemize, of those 25%, the top three itemized deductions are: the mortgage interest deduction, the charitable giving deduction, and the property tax deduction. By far, the largest itemized deduction is the mortgage interest deduction. The average amount of that deduction in Nevada is about $2,500. He says changes in H.R. 1, double the standard deduction for individuals from $6,000 to $12,000, exceeding the average mortgage deduction in terms of tax benefit. He also says new tax bracket result in most taxpayers, with an annual income below $260,000, to a lower bracket.