Staff Reports
President Trump has thrown his weight behind a proposal to increase the federal cap on state and local tax deductions. However, there’s a minor hitch in this otherwise straightforward game of tax filching; he is also urging New York Governor Kathy Hochul to get a grip on the state’s wild spending habits.
Hochul finds herself at the center of a financial circus thanks to the rampant spending that has turned her state into a fiscal black hole. Instead of trimming down the budget and reigning in costs, her team appears more interested in proposing tax hikes to cover the ever-growing bills. Anyone with common sense knows that if the money was managed properly, taxpayers wouldn’t be clamoring for higher deductions.
Hochul’s taxes are hammering New Yorkers — yet she’s AGAINST Trump’s SALT relief https://t.co/IteDo2Fp6h pic.twitter.com/JfKu0AqP68
— NY Post Opinion (@NYPostOpinion) January 14, 2025
Trump’s appeal is directed not just at Hochul but at all the big-spending Democrats who consistently show that they believe it’s their God-given right to spend other people’s money as if it’s an endless party. He is suggesting that a raise in the deduction cap would be a real help for taxpayers, but it comes with a catch — the state needs to figure out how to curb its addiction to budget-busting proposals that make gym memberships look like child’s play.
The whole situation is reminiscent of a child being handed candy and then getting reprimanded for eating it all — why not just keep things reasonable from the get-go? It’s perplexing that amid all the fiscal chaos, there isn’t a single politician in sight willing to hold Hochul accountable. Instead, it seems like Hochul is just waiting for Washington to swoop in and rescue New York with more federal money.
Increasing the deduction cap could give taxpayers in places like New York a breath of fresh air, but without a corresponding reduction in reckless spending at the state level, it might just be re-arranging deck chairs on a sinking ship. Until Hochul and her counterparts derive a budget plan rooted in reality, Trump’s proposal may turn into yet another missed opportunity to truly help the average American already drowning under the weight of taxes.
