ALBANY. N.Y. (NEWS10) – Governor Andrew Cuomo and six other Governors issued a letter on Friday asking President Biden to support repealing the cap on state and local tax deductions. These deductions were put in place by the Trump Administration as part of the Tax Cuts and Jobs Act in 2017.
The coalition of governors say the SALT cap will force 11 million Americans to pay $670 billion in taxes over a 10 year period. Cuomo adds that in New York, taxpayers are being forced to pay more than $12 billion in additional taxes to the federal government annually.
The letter mentions the efforts of the Biden Administration to pass the American Rescue Plan and Treasury Secretary Yellen’s willingness to work with Congress to ease the $10,000 cap on SALT.
The letter was signed by New Jersey Governor Phil Murphy, California Governor Gavin Newsom, Connecticut Governor Ned Lamont, Hawaii Governor David Ige, Illinois Governor J.B. Pritzker and Oregon Governor Kate Brown.