Hence we perceive that the clause which declares the supremacy of the laws of the Union, like the one we have just before considered, only declares a truth, which flows immediately and necessarily from the institution of a federal government.
More immediately, taxpayers in high-tax states are rushing to see whether they can seek extra relief ahead of a new cap on the state and local tax deduction that will go into effect on Jan. 1. Taxpayers will get to deduct only up to $10,000 in both property and income or sales taxes going forward, and GOP negotiators specifically banned people from prepaying 2018 income taxes this year for an extra tax break.
But Americans won't feel the effect of tax reform until 2019. If Republicans pass their tax plan by the end of the year, it will go into effect on January 1. But Americans won't feel the effect of tax reform until 2019. Jim Lo Scalzo/Pool Image via AP Senate and House Republicans reached an agreement on their final tax bill on Wednesday. If President Donald Trump signs it before the end of the year, the new tax plan will take effect on January 1, 2018. Americans won't see the change to their tax returns until spring 2019 â when they file taxes for 2018.