7 governors call on President Biden to lift $10K cap on tax deductions
In a letter sent the Democratic president Friday, they argued that Democratic-run states and their taxpayers were disproportionately targeted. Author: Associated Press, Susan Haigh Published: 6:48 AM EDT April 3, 2021 Updated: 9:58 PM EDT April 3, 2021
NEW YORK Seven Democratic governors are calling on President Joe Biden to lift the $10,000 cap on state and local tax deductions that was a part of former President Donald Trump s massive 2017 tax law.
In a letter sent the Democratic president Friday, they argued that Democratic-run states and their taxpayers were disproportionately targeted. The letter comes a little more than a week after U.S. Treasury Secretary Janet Yellen agreed to work with Congress on a way to remedy the inequities the cap has caused.
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