Tuesday, 22 October, 2019

Cuomo and NJ and CT governors to challenge federal tax law

Students gather to study in the Research and Information Commons at Daemen College Students gather to study in the Research and Information Commons at Daemen College
Patty Aguilar | 26 January, 2018, 18:58

New Jersey, New York, and CT plan to sue the federal government over the constitutionality of the tax law President Trump signed in December, the states' governors announced Friday.

"We're not ignoring other avenues", Murphy said.

Malloy said he expects that there will be documentation between Senate Majority Leader Mitch McConnell and others about the impacts on blue states, adding that the law was "intentionally discriminatory".

The new cap on deductions for state and local taxes was one of the ways Congress tried to offset the cost of lowering rates and eliminating other taxes as it wrote the tax bill that was signed into law past year.

New Jersey Gov. Phil Murphy speaks on January 16, 2018.

The law limits the deduction on state and local taxes to $10,000 annually, a level that will be exceeded by many New Yorkers with higher incomes and living in regions with especially high property taxes.

They do not "coincidentally all happen to be Democratic states".

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Andrew Cuomo of New York, Dannel Malloy of CT and Phil Murphy of New Jersey announced Friday that they're talking to leaders of other states that stand to be hurt by the federal tax plan that's expected to cost taxpayers in their states billions of dollars.

"This will only raise taxes on the people who pay above $10,000, " Cuomo said. Combined with new limits on the mortgage interest deduction, the $10,000 cap on state and local deductions was expected to generate an additional $668 billion over the next 10 years, according to the Joint Committee on taxation.

That's because the state tax code is tied to the federal one, meaning if the state doesn't act, the federal provisions limiting deductibility of property taxes and other itemized deductions would also severely reduce what residents can deduct on their state returns.

Murphy said joining the action doesn't preclude New Jersey from looking for other ways to counteract the tax law. Cuomo has said he will seek to address the situation as well in coming weeks.

He said Democrats will also push for a repeal of the federal tax law and highlight the issue during the upcoming congressional elections. Most of the affected states send billions of dollars more to Washington then they receive back in federal services.

"This is an authoritarian President who controls both houses", he said. The tax bill vote was purely partisan.

"States are not colonies of the federal government".

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