State and Local government taxes are some the highest in the nation….
But Republican lawmakers in low tax states voted in 2017 for a tax law that that hurts states with high taxes for services for their citizens…
Long Island Reps. Peter King and Thomas Suozzi have introduced bipartisan legislation that would retroactively restore the full State and Local Tax (SALT) deduction that was capped as part of the GOP’s 2017 tax reform measure.
The King-Suozzi bill, introduced Friday on the second day of the 116th Congress, would repeal the $10,000 cap on SALT deductions, which the two lawmakers called “unfair” to Long Islanders who pay disproportionately higher property taxes than other parts of the country.
“The elimination of the state and local tax deduction is a punch in the gut to Long Islanders,” Suozzi (D-Glen Cove) said at a news conference Monday outside the home of Farmingdale Deputy Mayor William Barrett. “It’s unfair to everyone on Long Island.”
King (R-Seaford) charged that New Yorkers already get “short changed” by federal government, getting 79 cents back from Washington for every dollar they pay in taxes — or a shortfall of $48 billion annually. He called the SALT cap a “disgrace” and unfair to residents who purchased homes on Long Island expecting to utilize the deductions.
“We are subsidizing the rest of the country,” King said. “This deduction is one of the few breaks that New York does get to partially offset what we provide other states.”
King’s Second District and Suozzi’s Third District are among the top 25 nationwide for state and local tax deduction claims, according to data from the Urban-Brookings Tax Policy Center, a non-partisan think tank in Washington, D.C…..