MAGA MAN
Let's go Brandon!
"New York doesn’t add to Florida’s bills—we pay them. In 2017 Florida took nearly $46 billion more from the federal government than it contributed, making it the No. 2 “grantee” state in the nation. New York is the No. 1 “donor” state. In 2017 we gave the federal government $36 billion more than we got back. The curtailment of SALT deductibility takes this gross imbalance and supercharges it, costing New Yorkers another $14 billion each year."
"But SALT was never about economics. It was about politics. Its explicit purpose was to weaponize the federal tax system against predominantly Democratic states. The 12 states most hurt by the limitations on deductibility all voted against President Trump in 2016."
1. Florida has a lot of retirees- many from NY. People leave the high real estate tax states when they retire because they can't afford the tax bills anymore. So the Social Security checks (Federal) are going to them.
2. For years high real estate tax states have been paying less in Federal taxes than low real estate tax states. In effect, "not paying their fair share". Now they can no longer avoid federal taxation.