Washington D.C. — New York Governor Andrew Cuomo took a trip to the White House Tuesday.
He hopes the President will rethink what is called SALT- the $10,000 limit on federal deduction for state and local taxes.
The cap would increase federal tax bills for residents in the state.
SALT Explained:
https://www.taxpolicycenter.org/taxvox/how-new-york-state-responded-salt-deduction-limit
The governor says it’s causing wealthy people to leave New York, losing the state billions in tax receipts.
Both sides saw the meeting as a relative success, with Cuomo saying Trump seemed open to change, and the White House using this as an example of Trump’s willingness to meet with governors on both sides of the political spectrum.
The leaders apparently also discussed other ways to spur economic growth in New York, like lowering energy prices through hydraulic fracturing.
