Speaker 1: Four liberal states, New York, Connecticut, New Jersey, and Maryland
Speaker 1: are suing the Trump administration are demanding more tax cuts.
Speaker 1: I kid you not. Now, in the old days, not
Speaker 1: that long ago, people could deduct their high state and
Speaker 1: local taxes on their federal tax forms, and it was
Speaker 1: an unlimited deduction. But the new tax law from Trump
Speaker 1: caps the deduction at ten thousand dollars. And many of
Speaker 1: these states pay way more than ten thousand dollars in
Speaker 1: local and state taxes. Now, these states, they are really
Speaker 1: mad that the Feds will not subsidize their high taxes anymore.
Speaker 1: The lawsuit claims that Trump's change will hurt property values
Speaker 1: and hurt job creation. Worse, it'll hurt state budgets because
Speaker 1: these taxpayers are gonna start paying attention to state spending,
Speaker 1: which they can't have that. And they're really, really, really
Speaker 1: mad because they say Republicans did all this on purpose
Speaker 1: to hurt Democrat run high tax states. Now, legally, it's
Speaker 1: hard to see how they expect to win this. The
Speaker 1: Feds make federal law except for immigration, well, they make it,
Speaker 1: but everybody breaks it. So until they cut their own taxes,
Speaker 1: these liberals are going to be singing a blue state
Speaker 1: blues for a long time to come. I guess it's
Speaker 1: what happens when the Russians medal in the elections.