Blue States Warned of a SALT Apocalypse. It Hasn’t Happened
- California, New York, Illinois income tax revenue rebounds
- Softer housing market in New York City suburbs may be warning
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To listen to New York Governor Andrew Cuomo, the 2017 Republican tax overhaul that limited state and local deductions to $10,000 was a devastating blow. The rich would flee, the middle class would suffer and blue state budgets would bleed.
Perhaps this will come to pass over time, but so far, there are almost no signs of it.