The Wall Street Journal: House Republicans move toward keeping partial state and local tax deduction http://ift.tt/2yjRKUw

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Speaker Paul Ryan, right, said Thursday that the House would pass a tax bill in November.

House Republicans are moving toward an agreement that preserves part of the federal deduction for state and local taxes, backing away from a controversial initial plan announced last month to abolish it entirely.

The aim, lawmakers say, is to focus on keeping the break for middle-income households while repealing it for higher-income households.

One idea is to cut off the deduction for households whose incomes exceed a certain level. The challenge will be finding agreement on where that dividing line should be.

An expanded version of this story is available at WSJ.com.

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