President Trump took to Twitter earlier this week to praise the Tax Cuts and Jobs Act. The new federal tax bill was signed into law in December of 2017. On Twitter this Sunday, the President said: “4.2 Million hard working americans have already received a large bonus and/or pay increase because of our recently passed tax cut & jobs bill....And it will only get better!”
If that’s the case, why is New York Governor Andrew Cuomo threatening to sue the federal government over the tax law? On this edition of Need to Know we’re examining the Tax Cuts and Jobs Act, the confusion around the new law, and what it means for New Yorkers.