States sue U.S. to void state and local tax deduction cap

States sue U.S. to void state and local tax deduction cap Reuters By Jonathan Stempel NEW YORK (Reuters) - Four U.S. states sued the federal government on Tuesday to void the new $10,000 cap on federal deductions for state and local taxes included in President Donald Trump's 2017 tax overhaul. The lawsuit by New York, Connecticut, Maryland and New Jersey came seven months after Trump signed the $1.5 trillion overhaul passed by the Republican-led Congress, which cut taxes for wealthy Americans and slashed the corporate tax rate. The post States sue U.S. to void state and local tax deduction cap appeared first on Firstpost. 1