A SALT cap surprise (so far) by E.J. McMahon | NY Torch

The newly enacted federal income law provision limiting state and local tax (SALT) deductions "is likely to substantially decrease home values" in New York, Connecticut, Maryland and New Jersey.

That's a key claim of the lawsuit filed by the four states against the Trump administration today with the goal of having the $10,000 SALT deduction cap declared unconstitutional.

Nashville’s gain, NY’s loss by E.J. McMahon | NY Torch

High-tax New York has just lost one of its oldest money-management firms to low-tax Nashville, Tennessee—highlighting an ongoing shift of Wall Street jobs, and of high earners in general.

Schumer taps his own state by E.J. McMahon | NY Torch

Led by New York's Charles Schumer, U.S. Senate Democrats just unveiled a "Jobs and Infrastructure Plan" that would be financed disproportionately by Empire State taxpayers.

To cover the 10-year, $1 trillion price-tag of their package, Senate Democrats would reverse several provisions of the newly enacted federal tax changes—including reductions in the top income tax rate and in the Alternative Minimum Tax (AMT).

The Senate GOP’s mixed bag on taxes by E.J. McMahon | NY Torch

State Senate Republicans today issued a "Blueprint for a Stronger New York" that combines a few solid big-picture tax reduction priorities with more of the wasteful "tax relief" gimmickry that's become a standard feature of the Senate GOP tax policy agenda in recent years.