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Posted on 07/18/2018 5:46:22 PM PDT by bkopto
The lawsuit from New York, New Jersey, Connecticut and Maryland amounted to their latest bid to fight the limit on state and local tax (SALT) deductions imposed by the GOP-authored tax plan.
"The federal government is hell-bent on using New York as a piggy bank to pay for corporate tax cuts and I will not stand for it," New York Gov. Andrew Cuomo, who is running for re-election and is considered a possible 2020 presidential candidate, said in a statement.
The tax law signed last year caps those SALT tax deductions at $10,000.
The deduction is especially popular in high-tax, Democratic states, where many homeowners will see big increases in their federal tax bill from the change. New York estimates that taxpayers will pay $14 billion more in 2018.
The lawsuit, filed Tuesday in the Southern District of New York, was dismissed as a long-shot political stunt by supporters of the new tax code.
(Excerpt) Read more at foxnews.com ...
How about the leftards in the hellhole states cut their taxes to something reasonable? Problem solved.
It amounts to taxing the rich....Isn’t that what the Dems profess to??
They are shooting themselves. It’s a free republican campaign ad.
If anything, states like New York, California, Illinois, etc.. may finally be forced to deal with their over-taxing and over-spending. There's actually discussions here in Illinois to start lowering property taxes because they're so damn' unsustainable.
For example, two months ago I moved out of my home and downsized dramatically to get out from paying over $10k/year in property taxes on a 3100SF home to paying $3,200/year on a 1,900SF townhome. The tax savings pay my monthly mortgage payment for most of the year and I banked the majority of the profits from the sale of my house.
I'm very fortunate that way, not everyone can do what I did as I'm an empty nester.
Cuomo is upset that he hasn’t successfully turned New York into Detroit yet.
Great record to run on.
FU Huomo, you high tax idiots have been getting subsidized by not just corporations, but INDIVIDUALS for DECADES
Does anybody else hate these people as much as me?
Congress Passed a Law, the President Signed it.
ANY AND EVERY LAWYER INVOLVED NEEDS TO BE IMMEDIATELY AND PERMANENTLY DISBARRED!!!
Let’s at least be honest about Cuomo’s anger. He’s mad that the administration and Congress shut off the high tax subsidies from low tax states. Those if it’s in states with lower SALT have been subsidizing this for decades.
Clueless MOFO’s. Cause and effect (voting) is lost on these Morons.
“The federal government is hell-bent on using New York as a piggy bank “
***************
Dems again accusing conservatives and Republicans of doing what they are up to their earlobes in. The rest of us in states that don’t have a state income tax have been subsidizing these states infrastructure and welfare program for a long time.
Consider that a budget is based on income, and set at a specific amount determined by how much a tax will generate.
While the states that have a state income tax were able to pass the deduction of state income taxes from an individual’s federal income tax, it shorted the federal budget, and the remainder of the population had their income taxes increased to make up for the revenue that did not come into the Federal coffers.
We have been subsidizing the infrastructure and welfare in those taxing states for a long time. It’s wonderful that it’s over.
MAGA
Why should citizens of other states be subsidizing the taxes of New York State?
listen stooopid, it's not an executive order
Why should citizens of other states be subsidizing the taxes of New York State?
You’ll never get an answer to that one from anyone involved in the lawsuit!
“The federal government is hell-bent on using New York as a piggy bank “
Why not? The majority of voters are such chumps they keep electing filthy democrats. Never give a sucker an even break.
Suing the Trump Administration for a law passed by Congress?
It’s idiotic. But I’m sure some Federal judge will issue a nation-wide injunction anyway.
USCONSERVATIVE,
You said: “I live in Illinois, a state with high state and local taxes and as much as I’m unhappy about the tax-hike I really will see with the Trump tax reform, the fact is it was the right thing to do for the country.”
Thank you for a principled comment. My crazy liberal acquaintances think the book “What’s the Matter with Kansas” is great because it shows how stupid conservatives are. What it actually shows, as does your comment, is that conservatives vote in ways that are not necessarily in their immediate best interests because there are issues of greater importance.
Oldplayer
(an Okie)
If the tax applies equally to all states it’s fine. Cuomo seems to want a sweetheart deal.
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