On Tuesday’s broadcast of the Fox Business Network’s “The Bottom Line,” former Trump Economic Adviser Stephen Moore discussed the potential federal involvement in New York City’s pied-à-terre tax floated by President Donald Trump and said that “I don’t think it’s the prerogative of the federal government to step in and tell them what kind of tax they can and can’t have.” And argued that we should allow competition among localities on tax policies.
Moore said, “I’m not in favor of the federal government telling states or cities what kind of taxes they have. That’s the wonderful thing about our federalism system. You want to live in New York City? You’re going to pay taxes through the wazoo. It’s your choice. You want to live in California? You’re going to pay a 15% income tax. So, I like the fact that states and cities compete with each other, Brian, on taxes. And I don’t think it’s the prerogative of the federal government to step in and tell them what kind of tax they can and can’t have. That’s for the citizens of that city.”
He added that the tax will cause people to leave New York.
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