10.17.17

QUOTES FROM AROUND NEW YORK STATE OPPOSING THE ADMINISTRATION’S TAX PLAN WHICH ELIMINATES STATE & LOCAL TAX DEDUCTIONS AND HARMS THE MIDDLE CLASS

QUOTES FROM AROUND NEW YORK STATE OPPOSING THE ADMINISTRATION’S TAX PLAN WHICH ELIMINATES STATE & LOCAL TAX DEDUCTIONS AND HARMS THE MIDDLE CLASS 

Across New York, families, businesses, and elected officials are sounding the alarm on the administration and Republican tax plan that eliminates the state and local tax deduction. Schumer said eliminating the state and local deduction, while slashing taxes for the wealthy and huge corporations, will hurt middle-class taxpayers, damage the New York economy and severely impact home values.

“Vice-President Pence might be arriving in Buffalo today, but he’s been living in a tax twilight zone, trying to sell the middle class a bill of goods on a plan that harms their interests while rewarding the wealthiest among us,” said Senator Schumer. “This tax plan is a gut shot to the middle class and all of Upstate New York’s economy that not only strips away the vital state and local tax deduction and personal exemptions, but also goes so far as to undermine support for Medicare and Medicaid. Businesses and elected officials throughout New York State are sounding the alarm on the Republican tax plan that punishes middle-class families while larding massive rewards to the already-rich and to profitable corporations 

Schumer continued: “The administration is trying to sell this plan based on ‘fake math.’ But Western New Yorkers will not be duped; they know that 29% of Western New York taxpayers claim the state and local deduction with an average deduction of $12,125. Simply put, Vice President Pence and all of our Republican colleagues, including Rep. Collins and Rep. Reed should drop the elimination of the state and local deduction, period.”

Western New York

Buffalo Niagara Association of Realtors, “Eliminating the deduction for state and local taxes flies in the fact of fundamental tax policy principle, avoiding double taxation."

"Elimination of the SALT deduction would be a devastating blow to individual households countywide and to the county overall, and would strike at the American tradition of federalism. This is a horrible and unconscionable idea that steals from the many to give to the few and we are urging the public to contact their congressional representative to stop this in its tracks," said Erie County Executive Mark C. Poloncarz. "This is not tax reform, it is a theft from every hard-working household in WNY, one that reaches directly into their pockets to double-tax them and then redistributes that money to the very wealthy and corporations. It's a brazen and unethical federal overreach, without logic or reason, and it clearly and demonstrably hurts working families and individuals."

Republican State Senator Patrick Gallivan from WNY also said this in the Livingston County News: “Losing the deduction not only increases taxes on hardworking New Yorkers, it amounts to residents being-taxed twice,” Gallivan wrote. “Some reports indicate the loss of the deduction would cost the average resident $4,500 more per year. The impact on middle and low-income residents would be especially devastating and could force more people and businesses to leave our state.”

Victor Village Mayor Jason Ashton said, “We appreciate Senator Schumer’s push to preserve the critical federal homeowner mortgage interest and property tax deductions that our residents rely on.  It helps keep our housing market strong while reducing costs to our homeowners.”

Duncan MacKenzie, the state Association of Realtors CEO "Home ownership is a keystone to strong societies, a keystone to building personal wealth. Anything to take away from that that’s irrational, which this really seems to be, doesn’t make any sense. We support efforts to reform the federal tax code to create a more simplified and fair system, but eliminating the deduction of state and local taxes, including property taxes, will only serve to hurt New Yorkers disproportionately compared to other states.”

Syracuse- Central New York

SALT is a huge advantage to people living in states with high income tax rates, said Leonard Burman, a professor of economics at Syracuse University and co-founder of the Tax Policy Center. “In New York, it’s very easy for an upper-middle-class family to have more than $24,000 of mortgage interest, property tax, income tax and charitable contributions,” Burman said. “Families don’t have to be that rich to have state and local taxes alone above that threshold.” “Raising the standard deduction will help people with modest incomes,” Burman said. “But those with high incomes will face substantial tax increase from repeal of SALT deduction.”

Chris Anderson, a certified public accountant and tax team leader in the Syracuse office of The Bonadio Group, "It would seem to me that getting rid of itemized deductions for property taxes and income taxes -- that's an awful lot of ground for New Yorkers to make up," Anderson said. "I'm always skeptical, and it remains to be seen where this ends up. “He added, "The goal is that this is not an increase for anybody. But I have my doubts."

Syracuse Mayor Stephanie Miner, "This deduction helps keep money in the pockets of our residents, which in turn supports our growing local economy," Miner wrote. "This tax deduction is an additional incentive to those who make Upstate New York home to continue living in, and investing in, our communities.

Long Island

 “While the Long Island Association support efforts to modernize the federal tax code and lower rates for the business community, removing the right to itemize property taxes and state income taxes would devastate Long Island residents with a loss of $2.7 billion, and thus we commend Senator Schumer for his efforts to protect our region and the middle-class,” said Kevin Law, President & CEO, Long Island Association.

"The Long Island Builders Institute is very concerned over the possible elimination of both the state and local tax deduction and the mortgage interest deduction and the devastating negative impact such actions will have on the housing industry on Long Island,” said Mitchell H. Pally, Chief Executive Officer. "Just when the Long Island housing market is recovering from the significant downturn, such actions would make it extremely difficult for new home buyers to enter the housing market and for many of our current residents to remain in their homes."

"This is an existential issue for Long Island.  There is no Republican or Democratic position.  It is about the survival of Long Island’s middle class which depends on this exemption as the means to hang on. Whether this proposal is a bargaining chip within a far larger tax bill or the keystone to this Administration’s plan, let’s all be clear we are talking about life or death for Long Island's middle class," said Kyle Strober, Executive Director, ABLI, a Long Island advocacy organization.

"The Long Island Housing Partnership applauds Senator Schumer’s leadership to preserve the federal deductions for state and local property taxes. It is extremely important for all Long Islanders and for the regions housing economy  that these vital deductions be continued,” said Joseph T. Sanseverino, Assistant Vice President, Long Island Housing Partnership.

According to Paul Llobell, LIBOR’s Legislative Committee Chairman, “The elimination of deductions for state income taxes and local property taxes would destroy the region’s economy – especially home values. The results would be devastating and could cause homeownership to be unobtainable for many residents.”

Southern Tier

“Binghamton homeowners would be hit hard if this deduction were eliminated,” said Mayor Rich David of Binghamton. “It’s not just a critical income tax deduction, but an important incentive for homeownership. If eliminated, home sales would decline and our tax base would continue to erode. Preserving this tax deduction is important to Binghamton’s families and neighborhoods.”

“Many taxpayers in Broome County rely heavily on the SALT deductions. To lose that reliable source of relief would be devastating to many families and the economy overall,” said Broome County Executive Jason Garnar.

“Taking the SALT deduction away from our residents in the City of Ithaca would add a terrible weight on the shoulders of all of our hardworking families.  The damage that removing these deductions would do to the residents of Ithaca would be among the worst across all of New York, and I appreciate Senator Schumer’s nonstop efforts to protect our low and middle income families here in Ithaca,” said Mayor Svante Myrick, City of Ithaca.

This tax proposal will be devastating for the people of the Southern Tier; thousands of residents in my district alone rely on the state and local deductions to help support their families. The proposed plan takes much needed relief away from middle class taxpayers at the benefit of the wealthy and large corporations,” said New York State Assemblywoman Donna Lupardo.

Hudson Valley

 “This is an imperative issue in the Hudson Valley, and in particular, here in Ulster County. The potential elimination of SALT deductions would be devastating to our area and could potentially make homeownership unobtainable for many, while simultaneously raising taxes for those that can.  I appreciate Senator Schumer’s ceaseless efforts to oppose any plans to change the tax code at the expense of Ulster County residents and for continuing to fight tooth and nail for the middle class,” said Ulster County Executive Mike Hein.

"Eliminating SALT deductions would mean an increase in taxes for many New Yorkers, specifically here in the Hudson Valley. These critical federal homeowner mortgage interest and property tax deductions have become a lifeline for many homeowners. I have fought in the Assembly to keep taxes from rising and it's imperative that we do so on a federal level.  I appreciate the Senator's ongoing efforts to protect middle class families by fighting against these cuts,” said New York State Assemblyman James Skoufis.

“Senator Schumer knows that Dutchess County is made up of honest, hard-working families and homeowners, who do not deserve to be hit by giant tax increases. He has continued to protect and improve the livelihood of our community by preserving important tax deductions that we depend upon to keep the cost of living in-check. Again, thank you Senator Schumer for standing firm and continuing to fight for us and every New Yorker,” said Mayor Wappingers Falls Matt Alexander.

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