Tri-state governors join group calling on President Biden to repeal SALT cap
Govs. Andrew Cuomo, Ned Lamont Phil Murphy and four other governors called on President Joe Biden to repeal the cap on state and local tax (SALT) deductions implemented by the Trump administration as part of the Tax Cuts and Jobs Act in 2017.
According to a letter they sent to the president:
“For the first time since Abraham Lincoln created the federal income tax, the cap on SALT deductions established a system of double taxation, where 11 million Americans were forced to pay taxes on the amount they paid in State, local, and property taxes, to the tune of $670 billion over a decade.“
It also says that Treasury Secretary Yellen recently agreed to work with Congress to ease the $10,000 cap.
The letter was signed by the governors in the tri-state, as well as California Gov. Gavin Newsom, Hawaii Gov. David Ige, Illinois Gov. J.B. Pritzker and Oregon Gov. Kate Brown.