The bill, if enacted into law, could send home prices tumbling 10 percent or more in parts of the New York area, according to one economic analysis. It could increase the regional tax burden, complicating companies’ efforts to attract skilled workers. It could make it harder for state and local governments to pay for upgrades to the transit system and other infrastructure. And it could force cuts in federal programs that help immigrants, the elderly and other low-income residents afford the region’s high cost of living.
Most significantly, the bill would eliminate the deduction for state and local income taxes, and would cap the deduction for property taxes at $10,000.
Tuesday, December 05, 2017
How New Yorkers Lose Under The Trump Tax Cut
NY Times: How New Yorkers Would Lose Under the Republican Tax Bill By BEN CASSELMAN and PATRICK McGEEHAN
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2 comments:
The GOP is pointedly punishing voters in the BIG blue States for voting against Trumpf.
Yes, exactly. It's much worse though, the country is in for an economic collapse that will make 2007 look like a mosquito bite.
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