Governor Cuomo is not pleased with the Republican House of Representatives tax overhaul plan, calling a key provision “double taxation” on some New Yorkers.
Cuomo says the proposal to eliminate the deduction of state and local income taxes from federal tax forms is a “diabolical dimension” that will raise taxes overall for many middle and upper middle class New Yorkers. That’s because New York is a relatively high tax state.
“It is a tax on your taxes,” Cuomo said.
Cuomo says it would be the first instance of double taxation since the federal income tax began over 100 years ago.
The Republican House plan does still allow the deduction of property taxes, but only up to $10,000. The governor says it’s quite a “coincidence” that the dozen or so states adversely affected by the proposal are blue states where President Trump lost in the 2016 elections.