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Governor Warns SALT Impact on State Revenues as ‘Serious as a Heart Attack’

At a press conference in Albany on Monday, Gov. Cuomo and State Comptroller Thomas P. DiNapoli revealed that estimated sales tax revenues in the past two months were down a total of $2.3 billion from estimates.

From left at the press conference in Albany are: State Budget Director Robert Mujica, Gov. Andrew Cuomo and State Comptroller Thomas P. DiNapoli. From left at the press conference in Albany are: State Budget Director Robert Mujica, Gov. Andrew Cuomo and State Comptroller Thomas P. DiNapoli.

ALBANY, NY—In response to two straight months of dramatic declines in state tax revenue, New York Gov. Andrew Cuomo says the impacts of the federal tax reform law that eliminated full state and local tax deductibility (SALT) are “as serious as a heart attack.”

At a press conference in Albany on Monday, Gov. Cuomo and State Comptroller Thomas DiNapoli revealed that estimated sales tax revenues in the past two months were down a total of $2.3 billion from estimates. Both Cuomo and DiNapoli blamed federal tax reform and specifically the $10,000 cap the legislation imposed on state and local tax deductions.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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