Repeals the state income tax deduction for federal income taxes paid for purposes of calculating individual and corporate income taxes (Item #40) (EG SEE FISC NOTE GF RV See Note)
Compresses the middle and upper individual income tax brackets and reduces the amount of the individual income tax deduction for excess federal itemized personal deductions (Items # 1 and 6) (OR +$543,000,000 GF RV See Note)
Changes the middle and upper income tax brackets for purposes of calculating individual income tax and reduces the amount of the deduction for excess federal itemized personal deductions (Items #1 & 6) (OR +$543,000,000 GF RV See Note)