Democrats counting on an angry, anti-Trump vibe to propel them to victory in November’s congressional elections may be in for a surprise as voters begin to see the effects of last year’s tax overhaul in their paychecks.
New York state would end income taxes on wage earners and make up the revenue with an employer payroll tax that’s federally deductible as part of a restructuring plan that Governor Andrew Cuomo is recommending to mitigate harmful effects of the new U.S. tax code.
Before the ink was dry on the Republican tax bill signed into law late last month, experts predicted that state governments would try to shield their residents from tax hikes they’ll suffer from a sharp reduction in state and local deductions.
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