New York Gov. Andrew Cuomo is encouraging members of the New York congressional delegation to fight for their constituents and repeal the Tax Cuts and Jobs Act, which he considers “disastrous.”
The governor has been a strong opponent of the federal tax law since the Republican Party first introduced it. He called it “double taxation” and an “arrow pointed to the heart of New York.” He is primarily against the cap on state and local tax (SALT) deductions.
Tax experts have said the cap on SALT deductions is a “bad deal” for taxpayers in New York, New Jersey, Maryland and California. Based on their analysis, taxpayers in these states will suffer significant tax increases under the Tax Cuts and Jobs Acts.
In an open letter to the state’s congressional delegation on Monday, Cuomo reiterated his position that the federal tax law is an “assault” on New York. The governor noted that home sales in the state, particularly in Westchester County, declined 18 percent last quarter. In other towns, the median sales price also dropped by double digits.