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AirTalk

Bush’s Revised Tax Plan May Raise Taxes for Californians

The President’s new tax plan may eliminate the federal deduction for state and local taxes. This would affect blue states more than red states, and Californians more than residents in any other state. Is this a coincidence or political payback? And how would this change affect you? Joining Larry is Steve Westly, California State Controller, Eric Engen, PhD in Economics, Resident Scholar at the American Enterprise Institute, and Adam Schiff, Democratic Congressman from the 29th district.