The Supreme Court Monday rejected an appeal from several states challenging Congress's cap on state and local taxes that can be deducted from federal taxable income.
New York led a group including Connecticut, New Jersey, and Maryland in trying to strike down the 2017 limit known as the SALT cap, which limits people to $10,000 of their state and local property and income taxes that can be deducted. The states argued that the cap improperly encroached on states' taxing ability.
"Congress’s taxing authority is cabined by the structural requirements of federalism, which prevent the federal government from directly interfering with the States’ ability to generate revenue to sustain their operations," the states said in a March court filing.
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