From the Washington Examiner:
New York Gov. Andrew Cuomo said Wednesday that the state government would explore a “major” overhaul of its tax system to circumvent the cap on state and local tax deductions imposed by Republicans at the federal level.
“We must protect New York taxpayers from this assault,” said Cuomo at his state of the state address. Cuomo has proven to be the most vocal critic of the new $10,000 limit on the deductibility of state and local taxes.
In a document outlining his plans, Cuomo said the state “will explore the feasibility of a major shift in tax policy,” and said officials are developing a plan to “restructure the current income and payroll tax system.”
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