“The human impact is huge,” Mr. de Blasio said, referring both to the higher taxes some residents would pay and to the services that could be cut as a result of the tax plan. He said his administration had tried for four years to make one of the world’s most expensive cities more affordable by providing public prekindergarten and paid sick leave. “And then along comes the federal government and makes the situation worse,” he said.

Gov. Andrew M. Cuomo of New York, who joined Gov. Jerry Brown of California and New Jersey’s governor-elect, Philip D. Murphy, on a call with reporters on Monday, called the bill “a targeted assault” on their states.

The versions of the bill passed by the House and the Senate have significant differences, which will have to be resolved in a conference committee before the bill can land on President Trump’s desk. The House bill has several provisions that could be especially bad for New York, including the elimination of a kind of tax-exempt bonds that many cities have used for affordable-housing projects. The Senate bill doesn’t include that change, but it does partly maintain the alternative minimum tax, which is aimed at limiting deductions for high earners and therefore disproportionately affects the New York area.

Parts of the bills could be good for New York. Most significantly, the corporate tax cuts contained in both the House and Senate versions would most likely be a boon to New York’s financial sector. That could mean higher returns for investors and bigger bonuses for Wall Street traders — which, in turn, could mean more spending at shops and restaurants and more sales-tax revenue for the city and state.