New York State is facing a $2.3 billion budget deficit, and Gov. President Trump's Tax Cuts and Jobs Act, which takes effect for the 2018 tax year, places a cap on the state and local tax deduction (known as SALT) that Americans can take. New York state's average SALT deduction was around $22,000 before the law changed. Tax the rich, tax the rich, tax the rich. "Tax the rich, tax the rich, tax the rich.

Source: Fox News February 05, 2019 16:14 UTC