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August 23, 2019

Cuomo to talk SALT with Trump in Washington

February 11, 2019
New York Gov. Cuomo talks about his upcoming meeting with President Trump as New York pays more in taxes to the federal government than any other state during a news conference in the Red Room at the state Capitol Monday, (Hans Pennink / AP)

Gov. Cuomo is heading to Washington this week to talk taxes with President Trump.

Cuomo will press the commander-in-chief on Tuesday during a D.C. meeting to roll back a controversial cap on federal deductions for state and local taxes, known as SALT.

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“This is unfair and egregious,” Cuomo said as he announced the trip Monday. “It has created two different tax structures in this country and it has created a preferential tax structure in Republican states.”

The Democratic governor last week blamed Trump and GOP tax policies for a $2.3 billion shortfall in the state’s estimates for personal income tax revenue.

“It has redistributed wealth in this nation from Democratic states, from so-called blue states, to red states,” Cuomo added.

A million New Yorkers are impacted by the SALT cap, Cuomo’s budget director Robert Mujica pointed out.

New York and three other high tax states sued the Treasury Department, the Internal Revenue Service and the Trump administration last year, claiming the deduction cap infringes upon states’ rights.

Trump said Wednesday that 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, who also blasted Trump last week for urging people to flee upstate New York, warned that an economic exodus could be all too real.

“This changes the economic trajectory of the state,” Cuomo said. “People are mobile and they will go to a better tax environment.”

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