New York State Department of Financial Services

12/12/2024 | Press release | Distributed by Public on 12/12/2024 15:39

Statement from Governor Kathy Hochul

December 12, 2024
Albany, NY

Statement from Governor Kathy Hochul

Statement from Governor Kathy Hochul

"The SALT tax proposal being floated by advisors to President-elect Trump is nothing more than an empty gesture. It fails to deliver the meaningful relief working families desperately need as they struggle with rising costs. Since Republicans eliminated the SALT deduction six years ago, New Yorkers have shouldered an additional $12 billion annually in taxes. This cannot continue, and this half-measure falls woefully short.

"I fully support Representatives Garbarino and Suozzi's proposal for a complete restoration of the SALT exemption and expect every member of New York's congressional delegation to continue this fight. New Yorkers deserve nothing less than a full restoration of the SALT deduction, which would put money back in their pockets when they need it most."

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