U.S. appeals court rejects challenge to cap on state, local tax deductions

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By Jonathan Stempel NEW YORK (Reuters) -A federal appeals court on Tuesday rejected efforts by four Democratic-leaning U.S. states to overturn former Republican President Donald Trump’s decision to limit federal deductions on state and local taxes. In a 3-0 decision, the 2nd U.S. Circuit Court of Appeals in Manhattan said the federal government had authority to impose a $10,000 cap on the state and local taxes that households itemizing deductions could write off their federal returns. The decision is a defeat for New York, Connecticut, Maryland and New Jersey, which challenged the so-called SA…

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