Property taxes are generally higher in the Northern part of the country, and politicians in states like New York and Massachusetts are worried about the potential economic damage caused by the new $10,000 cap on state and local tax deductions.
But the new tax rules are music to the ears of some Southern politicians and business leaders, according to Tuesday’s Wall Street Journal.
Warmer weather and relatively cheap housing have been drawing migrants to the South from the North for decades, and the tax bill should bolster the region’s business-friendly reputation, helping attract more corporate investment and jobs.
Tennessee Gov. Bill Haslam told the Journal that the tax overhaul makes the South even cheaper by comparison and “accelerates a trend that is already happening.”