Posted on 01/26/2018 12:39:44 PM PST by markomalley
New York Democratic Gov. Andrew Cuomo announced Friday that a coalition of East Coast states will sue the federal government over the Trump-signed tax overhaul, in the latest bid to undermine the law that Republicans have cheered.
The states -- New York, New Jersey and Connecticut -- appear to be taking aim at a provision that limits residents' state and local tax deduction (SALT) to $10,000. While the law contains sweeping tax rate cuts for businesses and individuals, taxpayers in high-tax states like those in the Northeast are expected to take a hit from the SALT change.
Cuomo called it an "economic missile."
"The elimination of full state and local deductibility is a blatantly partisan and unlawful attack on New York that uses our hardworking families and tax dollars as a piggy bank to pay for tax cuts for corporations and other states,” Cuomo said in a statement. “This coalition will take the federal government to court to protect our residents from this assault."
(Excerpt) Read more at foxnews.com ...
O P M withdrawls?
The Congress shall have power to lay and collect taxes on income, from whatever source derived, without apportionment among the several States, and without regard to any census or enumeration..............................
——precedent?——
in the vernacular......CYA
Cuomo has to do something that can be perceived as a counterattack.
He knows he will lose at SCOTUS
There are inumerable federal judges in the Southern District who will fast track this and rule in Mario’s brat’s favor. Same for the Southrrn District Appellate Court. This will go to SCOTUS.
"3 High-tax Demonrat-controlled states will sue feds in futile bid to thwart tax law"
They won’t have a leg to stand on when it gets to SCOTUS, but some Liberal circuit judge will no doubt take the opportunity to try and hamstring Trump.
OK, should have noted the AMT (and other AGI related limitations on deductions in general) in my post.
But there has never been an arbitrary one-size-doesn’t-fit-all fixed dollar cap placed on SALT—until now.
I disagree. IMO the last thing the liberal judges on SCOTUS want is anything remotely resembling a states rights decision.
It is becoming increasingly obvious to me that the Union needs to be dissolved. These states that unilaterally adhere to laws they like and ignore others are forcing it.
Cuomo sounds like the pimp and his whores come in short.
That is what i thought.
No standing.
Socialism at it’s worst.
IT’S NOT A TAX. IT’S A FEE!!!
Great points. Here’s another, how can they use the “it’s been this way forever argument” when Congress has to pass an extension every few years so I can deduct my state sales taxes, because my state doesn’t have an income tax.
Cuomo is dumber than both his dad and brother.
Is that even possible?
5.56mm
Great. NYS is over $4 bil in the red and Cuomo’s gonna pour taxpayer money down this ‘Rat hole....
A house worth 200 grand in my Upstate neck of the woods can have over a 10 grand property tax. And owners aren’t rich. Just middle class folks who are about to be screwed. Not by Trump. But by the local and state pols bankrupting this state.
I they liked high taxes.
Ummm....No Andy, it is 10,000 across the board. If you tax to much, it’s on you.
Idiot.
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