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{"A4D66E71-5056-A066-60C7-D4B0532B648B":{"TotalRows":1,"uid":"A4D66E71-5056-A066-60C7-D4B0532B648B","title":"Sen Schumer introduces resolution to restore SALT deductions","summary":"Floral Park, NY","eventType":"chuck-around-ny","eventTypeLabel":"Chuck Around NY","date":"July 15, 2019","url":"about/chuck-around-new-york/sen-schumer-introduces-resolution-to-restore-salt-deductions","city":"Floral Park","county":"Nassau","lat":40.7207087,"lng":-73.69121389999998,"description":"As LI homeowners wait with bated breath to learn the fate of a critical tax deduction they rely upon, U.S. Senator Charles Schumer is unveiling a new effort to restore New York State’s ability to work-around the part of the federal tax law that takes an unfair aim at the Island by eliminating a homeowners’ SALT tax deduction, costing them tens-of-thousands of dollars. Schumer explained that just as New York State was tying the bow on its workaround plan by passing a law that circumvented the feds, <a href=\"https://www.newsday.com/news/nation/salt-deduction-cuomo-irs-1.32268857\">the IRS swooped in</a> and used regulations to squash everything, adding insult to injury for local homeowners. Therefore, on July 15, 2019, Schumer, announced he will use a special legislative power provided under the Congressional Review Act (CRA) Resolution of Disapproval to overturn that bad and recent IRS decision in hopes of once again making LI’ers eligible for their full SALT deduction. Local backers of the new plan include area homeowners, and Supervisors Gillen, Bosworth and Saladino.\r\n \r\n“While none of us have a magic wand to wave and undo the nasty tax predicament the federal government has cast on Long Island, there is one more veritable rabbit in the hat Congress can use to make this unfair IRS rule disappear, and I am announcing today, that I’m going to use it,” said U.S. Senator Charles Schumer. “The special legislative power comes from the Congressional Review Act (CRA) and tomorrow I will drop what is called a ‘Resolution of Disapproval’ to overturn the recent IRS decision that blocks New York State from implementing its workaround plan to allow Long Islanders to claim their rightful SALT deduction. New York State had a smart plan, and the IRS shot it down, but not all is lost.”\r\n"}}

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