The California Senate approved Senate Bill 227 Tuesday in an attempt to protect its taxpayers from the recent tax overhaul and its cap on individual deductions for state and local taxes.
The new federal tax law limits the individual deduction for state and local taxes to $10,000, which mostly hurts wealthier Californians. The new law would allow taxpayers to reduce their state taxes by 85 percent of their contribution and then make a charitable contribution instead.
