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.

Learn more about the map.

More on TCJA and the SALT cap:

You may also like

The House GOP’s Shrinking Budget Plan Could Still Cost New York Billions

The likely impact of federal health-care cutbacks has diminished in recent days as House Republican leaders backed away from some of their bigger-ticket proposals, reducing the estimated savings to $625 billion from previous figures of $715 billion and $8 Read More

School Districts Plan To Spend Over $35K Per Student, Outpacing Inflation

School districts presenting budgets to voters on Tuesday, May 20, plan to spend an average of $35,012 per student, up 4.6 percent from the current school year, according to new state data. Data collected by the state Education Departme Read More

SeeThroughNY Updated With 1,000+ Latest Union Contracts

New York’s of state and local government union contracts has been updated with the latest collective bargaining agreements for local teachers, police, firefighters, libraries, and public authorities. Among the on SeeThroughNY.net, the Empire Center Read More

Feds Move To Close Medicaid’s ‘MCO Tax’ Loophole, Spelling Trouble for New York

New York's budget has sprung its first major leak just five days after being finalized by Governor Hochul and the Legislature. On Tuesday, federal officials announced a that would Read More

Highlights of Albany’s Bloated and Belated Budget

The state Legislature approved the last of nine budget bills Thursday evening, 38 days after the start of the fiscal year. Here are some highlights of the fiscal impact of final spending plan: Top lines Read More

Unforeseen Consequences

We acknowledge that the impact of these measures will be determined by their scope, implementation timeline, pace, and advancements in technology, infrastructure, and market dynamics.  Read More

Forcing Homes to Switch to Electric Heat is not a Good Policy

  New York has some of the most ambitious climate goals in the country: electric school buses by 2035, zero emissions electricity by 2040, etc. Why New Yorkers, who already consume less energy per capita than any state (other than Rhode Island), s Read More

The Empire Center Comments on the Budget Deal in Albany

As Governor Hochul and legislative leaders belatedly released details of their agreement on a state budget for fiscal year 2026, the Empire Center released a statement from its Senior Fellow for Health Policy, Bill Hammond: Read More