No SALT Apocalypse Yet as California, New York Tax Revenue Rebounds

The video discusses the impact of state and local tax limitations, highlighting reactions from governors of states like New York and New Jersey. It explains how taxpayer payment behaviors have shifted due to changes in deductions, and how the 2017 federal tax law has broadened the tax base, leading to increased state revenues. The video also explores potential reactions from states, the softening housing market, and ongoing research into whether high-income individuals relocate due to taxes.

What changes occurred in taxpayer behavior regarding payment timing due to tax law changes?

What was the economic condition in 2018, and how did it relate to tax revenues?

How did the federal tax law enacted in late 2017 affect state tax revenues?

What factors might be contributing to the weakening of housing prices in wealthy suburbs around New York City?

What are some potential reasons for high-income individuals leaving a state?