GOP Plan to Scrap Tax Deduction Would Hurt New York, Lawmakers Say

10/26/2017. This article discuss how experts, congressional lawmakers and advocates warn that the impact of repealing a popular state and local tax deduction would be felt by the middle class in New York City and the rest of the state, which has one of the highest tax burdens in the country.

“New York City would definitely be hit the hardest in New York State,” Ron Deutsch, executive director of the Fiscal Policy Institute, an Albany-based nonpartisan think tank, told Observer.”

The article claims that the repeal would hit the area that includes Albany, Troy, Schenectady and Saratoga particularly hard. In that region, 165,000 people, 31 percent of taxpayers, would pay $3,088 more in federal taxes on average. Across New York, the deduction loss would come out to roughly $68 billion a year.

“Look, I think the reality is if our entire congressional delegation does not support this and won’t vote for it, then it should not pass,” Deutsch added. “I certainly wouldn’t wanna be supporting this and have to go seek reelection next year.”

 

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