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7 governors call on Biden to lift $10K cap on tax deductions

Seven Democratic governors are calling on President Joe Biden to lift the $10,000 cap on state and local tax deductions that was a part of former President Donald Trump's massive 2017 tax law. In a letter sent the Democratic president Friday, they argued that Democratic-run states and their taxpayers were disproportionately targeted. The letter comes a little more than a week after U.S. Treasury Secretary Janet Yellen agreed to work with Congress on a way to remedy the "inequities" the cap has caused. The governors of Connecticut, New Jersey, California, Hawaii, Illinois, New York and Oregon sent the letter.


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