New York is set to create an optional payroll tax and new charitable funds. The move will allow its residents to get around new federal limits on the deductability of state and local taxes. It will be the first state to enact workarounds to the Trump administration’s new tax law. It’s a win for Democratic Gov. Andrew Cuomo, who along with other blue state governors has blasted Republicans in Congress for targeting their high-tax, high-wealth precincts through the Tax Cuts and Jobs Act.
