New York’s plan to strip an opportunity zone tax break from its tax code through a new state budget proposal drew praise from progressives who hope it’s a trendsetting move, and jeers from those worried it will cause investors to flee.

In a budget deal unveiled late Tuesday, the state lawmakers would no longer allow investors to defer state and New York City capital gains taxes on the profits they put into “opportunity funds” that finance projects in the state’s opportunity zones. The move has significant implications for a state that houses a major global finance and real estate market and has high taxes on capital gains.

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“There’s no reason states should lose revenue passively to a terrible program that was snuck into the Trump tax cut,” he said, calling the decision to decouple “wise.”

Pat Garofalo, director of state and local policy at the nonprofit American Economic Liberties Project, said he hopes it’ll inspire more states to take the same route.

“New York is a big deal,” he said. “It’s a national trend-setter on just about everything.”