The Tax Cut and Jobs Act (TCJA) was signed into law by President Trump in December 2017. Most New Yorkers pay less in taxes under the new law, thanks to the near doubling of federal standard deductions, cuts in tax rates, a narrowing of the Alternative Minimum Tax, and expansion of the child credit.
On the other hand, the new tax law included a $10,000 cap on state and local tax (SALT) deductions. This will help offset the costs of the tax cuts for individuals and corporations, and will raise at least $600 billion in revenues over the 10-year period.
The Tax Policy Center estimated 8.3 percent of New Yorkers will pay more with the new law, compared to 6.3 percent nationally. Most of the losers are concentrated within the top 1 percent of the income pyramid—especially in New York City, where the combined top-bracket rates rate will now be higher.
The interactive map below depicts how the federal Tax Cuts and Jobs Act (TCJA) will affect New York taxpayers in two different adjusted gross income (AGI) ranges: $75,000 to $100,000, and $100,000 to $200,000.
More on TCJA and the SALT cap:
-
SALT suit swept aside by E.J. McMahon,
-
Cuomo’s SALT Flop by E.J. McMahon,
-
Cuomo keeps pounding SALT by E.J. McMahon,
-
Here comes federal “Tax Reform 2.0” by E.J. McMahon,
-
More on that flaky SALT suit by E.J. McMahon,
-
A SALT cap surprise (so far) by E.J. McMahon,
-
Another SALT work-around emerges by E.J. McMahon,
-
Looking ahead to next year’s Tax Day by E.J. McMahon,
-
Cuomo’s big stealth tax hike by E.J. McMahon,
You may also like
Empire Center Poll: New Yorkers Prioritize Low Energy Prices and Have Little Appetite for Radical Climate Policies
FOR IMMEDIATE RELEASE
ALBANY, N.Y. — New Yorkers across political, geographic, age, and income groups oppose energy and climate policies that raise energy prices or force changes on homeowners, according to new Empire Center analysis Read More
Opinion Poll – Energy
Executive Summary
New York voters prioritize affordable energy and show limited support for energy and climate policies that could increase costs. The survey finds broad opposition to home-heating electrification and climate-related lawsuits aga Read More
The Attorney General’s MFCU SNAFU
Attorney General Letitia James' latest fight with the Trump administration focuses on New York's Medicaid Fraud Control Unit, a federally funded agency housed in James' office.
On T Read More
New York’s Electricity Prices Fourth Highest in the Country
New York households are paying the fourth-highest electricity prices in the country, according to the Empire Center's In April 2026, residential electricity prices in New York averaged 29.45 cents per kilowatt-hour - 56 percent above the national average Read More
Energy Data Bulletin June 2026
June 2026
Summary and Insights
Electricity. In March 2026, New York's average residential electricity price was 28.55 cents per kilowatt-hour (kWh). New York ranked 7th highest among the states and 50 percent above the Read More
Fourteen NYC Educators Receive Over Half a Million Dollars in Pensions
Fourteen retired New York City educators received more than $500,000 in pension benefits in 2025, according to , the Empire Center’s government transparency website.
The data was obtained from the New York City Teachers’ Retirement Read More
Healthcare Revelations in the Enacted Budget Financial Plan
The state financial plan published on June 10 disclosed key information about healthcare revenue and spending that lawmakers had not made public when approving the annual budget two weeks before.
Read More
Hammond Submits CDPAP Testimony to Congress
The Empire Center's Bill Hammond today submitted written testimony for a congressional hearing on healthcare fraud.
Hammond's testimony to the focuses on evidence of overuse and wa Read More