Eliminating state and local taxes deductions will undoubtable cut into home values and is a blatant attack on the most populated blue states.
Who Benefits from the Trump Tax Plan
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'Current homeowners could very well see their home's value plummet and their equity evaporate if tax reform nullifies or eliminates the tax incentives they depend upon, while prospective homebuyers will see that dream pushed further out of reach.' - William Brown, President, National Association of Realtors.
Similar concerns have expressed about the House GOP tax reform blueprint, which also would eliminate many breaks and potentially alter the mortgage interest deduction directly.The elimination of the federal estate tax and the alternative minimum tax, combined with the reduction of federal corporate income tax rates from 35% to 15%, will greatly enhance the value of the assets of the top percenters.