WASHINGTON – After much verbal sparring and political attacks, New York Gov. Andrew Cuomo is set to visit with President Donald Trump to discuss the impact of changes in state tax deduction laws.
Cuomo has been concerned about declines in the state’s largest revenue stream, personal income tax receipts.
Estimated payments are $2.3 billion less than forecasted.
“To me, there is no more vital long-term issue for the state from a financial point of view than SALT…It has created two different tax structures in this country. And it has created a preferential tax structure in Republican states,” Cuomo said.
Cuomo is expected to tell the President that the brunt of the impact of deduction limitations falls on so-called blue states.