Senators Blumenthal and Murphy discuss GOP tax plans

- FILE - U.S. Senators Chris Murphy (left) and Richard Blumenthal (right) (WTNH)

HARTFORD, Conn. (WTNH) — The plan announced by U.S. Senate Republicans would eliminate the deduction for local Property and State Income Taxes.

Most national coverage of this refers to high tax states like New York, New Jersey, and California, but Connecticut is also right up there with high Property Taxes.

The House Republican plan would allow Property Tax deductions of up to $10,000. The Senate plan would continue to allow deductions for Mortgage Interest. The House plan would limit this deduction to the first $500,000 of a loan.

That could be a problem for many homeowners in higher home priced areas in Connecticut, like Fairfield and Litchfield counties. An increase in the standard deduction may not be enough to break even on taxes for some Connecticut residents.

News 8’s Chief Political Correspondent Mark Davis will have a full report with Senators Blumethal and Murphy coming up on News 8 at 5:00 p.m.