Opinion: If New York would cut taxes and regulations, maybe it could compete with Florida again, writes SenRickScott
A recent article in a Beltway publication warned about a potential recession and considered how it might affect President Trump’s chances at re-election. The story began—no joke: “The luxury real estate market in Manhattan is sagging.
” It goes on to argue that softening in the real-estate market in high-tax Northeastern states is caused by the 2017 tax-reform law. Thus the claim is that because taxpayers can deduct only $10,000 in state and local taxes from their federal returns, America is heading for a recession.
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