Additionally, the governor said, “By decoupling from this area of the federal tax code, we are taking action to protect these critical organizations from the federal assault and sending a strong message that New York stands with the non-profit community.”
Cuomo previously called the Tax Cuts Jobs Act as a “double “taxation” and an “arrow pointed to the heart of New York” due to its provision limiting the state and local tax (SALT) deductions.
On the other hand, Lieutenant Governor Kathy Hochul, commented, “The federal tax bill is an attack on hardworking New Yorkers. This legislation will help to protect non-profits from experiencing a tax increase as a result of the Trump tax plan.”
“We want to ensure that nonprofits are not forced to decide between paying more in taxes and cutting employee benefits. Non-profits play a critical role in providing services to New Yorkers, and this tax hit orchestrated by Washington will undermine their ability to perform those functions,” she added.
