Governor Cuomo says the Trump Administration’s tax overhaul plan would be a punch in the gut to state taxpayers. The president’s tax plan calls for removal of the deduction for state and local taxes, which Cuomo says is devastating:
Cuomo also blames politics for this particular proposal:
The tax plan, along with other federal policies could have a substantial effect on the state coffers.
New York already faces a $4 billion shortfall for the next fiscal year.