This is all about winning states like New York and New Jersey, not California. It’s a great move, politically speaking, if not fiscally. But Trump thinks big. He swings for the fences. And he wants to jump start the economy, including in blue states. I’m wondering if, once in office, there might be ways for him to use his leverage as President to get blue states to lower their own state taxes and government bloat. Now THAT would be a masterstroke if he could pull it off.
This is all about fairness...If you worked and put your money in your homestead in NEW York...you could only deduct part of the taxes you paid because of the cap...and that just wasn’t right.