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The Governor & The President Talk About Taxes

The Governor & The President Talk About Taxes

Governor Cuomo traveled to Washington, D.C. Tuesday to discuss taxes with President Trump and urged him to roll back the $10,000 cap on federal deductions for state and local taxes – which he said was “unfair and egregious.” The Governor added, “It has created two different tax structures in this country and it has created a preferential tax structure in Republican states.” State Budget Director Mujica said a million  New Yorkers are impacted by the SALT cap.  New York and three other high tax states have sued the Treasury Department, the Internal Revenue Service and the Trump administration, claiming the deduction cap infringes upon states’ rights. Trump said last week he’s “open to talking about” revising the so-called SALT cap, which limited the amount of state and local taxes that can be deducted on federal returns to $10,000. The Governor also plans to meet in the coming weeks with House Speaker Pelosi.

State legislators left the state Capitol yesterday due to the inclement weather, and the Legislature is now out on recess for its annual winter break. When the Legislature returns return to Albany February 26, budget negotiations are expected to heat up considerably.

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