It’s been a pretty good news day.

The Supreme Court on Monday declined to hear a challenge to the $10,000 state and local tax (SALT) deduction cap, a Trump-era tax law that hit the pocketbooks of wealthy people in blue states.

 

New York led a group of states including Connecticut, Maryland and New Jersey in seeking to strike down the law that limits people to deducting $10,000 of state and local tax from their federal tax bill. The cap was enacted as part of the 2017 Trump tax bill as a way to offset other cuts.

 

The states had argued that the cap improperly encroached on their taxing ability.