NY Gov. Andrew Cuomo claimed Trump "is trying to kill New York City" by not giving tax breaks to the wealthy and by refusing to use federal funds on a local NYC subway.
Yep, that’s his argument.
Since New York’s fiscal responsibilities aren’t seemingly Cuomo’s or NYC Mayor Bill de Blasio’s problem, he’s heaping blame on Trump. On Tuesday, Cuomo displayed his presentation “President Trump is actively trying to kill New York State,” and made his argument that New York City may only survive if taxpayers in South Dakota (and other states) subsidize it and its subway.
“Trump is actively trying to kill New York City. It is personal, I think it's psychological,” Cuomo raged.
“He is trying to kill New York City. He passed SALT, which was targeted just in New York City. Tax reform cost us 14 billion dollars. He's refused to fund the extension of the Second Avenue subway from 96 to 125thStreet. Every prior administration has funded the Second Avenue subway.”
The state and local tax (SALT) deduction allows taxpayers of high-tax states to deduct local tax payments on their federal tax returns. President Trump instituted a cap, limiting the maximum SALT deduction available to $10,000. Previously, there was no limit to the deduction.
According to the Tax Foundation the SALT cap impacted the top 20% of taxpayers.
“Contrary to popular arguments, the SALT cap does not disproportionately impact middle-income taxpayers. The benefits concentrate above $100,000 in income, which some have labeled as ‘middle-income.’ However, these individuals are in approximately the top 20 percent of taxpayers, outside the traditional definition of middle-income. In 2016, the top 25 percent of taxpayers had incomes above $81,000. The top 10 percent of taxpayers had incomes above $140,000. The top 5 percent of taxpayers had income above $200,000.”
Back in 2016 the Second Avenue Subway project needed $2 billion in federal funds before then-President Obama left office.
Congressmen-elect at the time, Democrat Adriano Espaillat, actually put his request for the money in basketball terms for Obama.
“We know he’s a great basketball player; we need a last-quarter, three-point shot to ensure that we get the Second Avenue subway fully, fully completed,” he said.
Obama did not complete the funding and neither has Trump.
The buzzer has sounded. Cuomo just doesn’t like its tone.