Washington, D.C.’s city government collected more than $50 million in prepayments of 2018 property taxes from about 7,500 taxpayers, said David Umansky, a spokesman for the city’s Chief Financial Officer Jeffrey S. DeWitt.
Before the ink was dry on the Republican tax bill signed into law late last month, experts predicted that state governments would try to shield their residents from tax hikes they’ll suffer from a sharp reduction in state and local deductions.
New York Governor Andrew Cuomo said his administration plans to sue the federal government over the new Republican tax law, on the grounds that it’s unconstitutional because it discriminates against New York and other states that voted against President Donald Trump.
Senate Republicans passed the most extensive rewrite of the U.S. tax code in more than 30 years, a bill that delivers a deep, permanent tax cut for corporations and shorter-term relief for individuals.
President Donald Trump could benefit from some of the business provisions in the tax bill that could be headed for his signature this week, White House Press Secretary Sarah Huckabee Sanders said Tuesday.
State and local governments could gain between $8 billion and $13 billion in tax revenue this year if states were given the authority to require sales tax collection from all remote sellers, such as e-commerce websites, according to a new government report.