Opposition to ending local tax deductions
Ending a longstanding local tax deduction on federal tax returns would cost taxpayers in the Capital Region an average of $2,900, according to the state Department of Taxation and Finance.
Gov. Andrew Cuomo spoke out Tuesday against the proposal, which was included in President Barack Obama’s budget proposal.
“The proposals under consideration that would repeal or cap the deduction for state and local taxes would have severe consequences for taxpayers here in New York and across the nation,” he said in a statement. “I urge Congress and the administration to act in the best interests of taxpayers and reject these proposals that would cost New York families thousands of dollars extra each year.”
A full story about this issue can be found HERE.
Clinton Britt, a spokesman for U.S. Rep. Paul Tonko, D-Amsterdam, said the congressman agreed with a number of proposals in Obama's budget, but this was not one of them.
"The impact of capping state and local deductions would be bad for the state of New York," Britt said. "As the proposal stands, it would be particularly harsh for Capital Region residents. Congressman Tonko agrees with Governor Cuomo that this would be a harmful change."
A report on the deduction is available below.
In the Capital Region, the state estimates more than 170,000 taxpayers utilize this deduction.
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