Move to work around federal tax cap gets key vote from California lawmakers

A proposal that would allow state taxpayers to work around the new $10,000 federal tax cap on state and local tax deductions now in place after the GOP tax overhaul passed the California Senate 27-7 on Tuesday.

First floated as a possible idea before the tax bill passed, and further honed in this paper by experts from universities including Stanford, UCLA and the University of Chicago at the beginning of January, the policy would work with state legislators to find a way to give California homeowners…