Almost all of New York's House Democrats draw a hard line on state and local tax deductions

  

Category:  News & Politics

Via:  texan1211  •  2 months ago  •  6 comments

By:   Sarah Ferris (MSN)

Almost all of New York's House Democrats draw a hard line on state and local tax deductions
The powerful bloc wrote to House leaders as negotiations intensified across Washington this week on Biden's next major legislative priority.

S E E D E D   C O N T E N T



Nearly every Democrat in New York's House delegation said Tuesday that they won't back tax hikes to fund President Joe Biden's infrastructure package without a full repeal of the $10,000 cap on state and local tax deductions.

© Susan Walsh/AP Photo Capitol Hill

That powerful bloc, representing 17 out of 19 Democrats in the delegation, sent a letter to House leaders to outline their position on the issue, known as SALT, as negotiations intensified across Washington this week on Biden's next major legislative priority.

"We stand ready to work with you on this critical issue, and we will not hesitate to oppose any tax legislation that does not fully restore the SALT deduction," the New Yorkers' letter, led by Reps. Jerry Nadler and Tom Suozzi, reads.

Every Empire State House Democrat except Rep. Alexandria Ocasio-Cortez and Kathleen Rice signed the letter, a copy of which was obtained by POLITICO.

The group is part of a growing chorus of Democrats calling to roll back the tax deduction cap instituted to help pay for the GOP's costly tax-cut package in 2017. Supporters of that push include Speaker Nancy Pelosi, who told reporters earlier this month that she hopes to secure the restoration of unlimited SALT deduction in the broader package.

"I think we're building momentum and we're continuing to build momentum," Suozzi said in an interview Tuesday.

Rolling back the SALT cap would give relief to taxpayers in blue states, who pay the highest rates of state and local taxes across the U.S. But the policy hasn't been without controversy in the party. Some progressive Democrats, including Ocasio-Cortez, have argued that rolling back the deduction — which would cost tens of billions of dollars the first year alone — would only help the wealthiest taxpayers.

"A lot of progressives support this, certainly from New York delegation, other states as well," Suozzi said, when asked about some of the liberal pushback on the proposal.

"When this was done by President Trump and the GOP, they weren't trying to be progressive, I can assure you on that. This had the biggest negative impact on progressive states," Suozzi said.


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Texan1211
Professor Principal
1  seeder  Texan1211    2 months ago

After braying about taxing the rich more for how-many-years now, why are Democrats attempting to give the rich a tax break after doing nothing but complaining about the rich getting tax breaks?

Hypocritical twits.

 
 
 
Vic Eldred
Professor Principal
1.1  Vic Eldred  replied to  Texan1211 @1    2 months ago

It's the Biden Administration vs big blue states on that one. 

 
 
 
Ronin2
Masters Quiet
1.2  Ronin2  replied to  Texan1211 @1    2 months ago

Because they want to raise the state taxes in NY; and they can't do that without losing the 1% they loath so much. The rich are not going to stay while paying so much in Federal and State taxes (leaving out local high taxes like in NY City and Buffalo).

Hit the rich with a double tax hike at the federal and state level and they will flee even faster. NY may hate the 1%; but they love the money they get from them.

Get rid of the Salt tax and NY gets to keep that money from their new tax hike; the rich get their tax deduction back at the federal level; and NY can raise their state taxes in peace- knowing full well they won't be paying their fair share of any infrastructure tax.

 
 
 
Texan1211
Professor Principal
1.2.1  seeder  Texan1211  replied to  Ronin2 @1.2    2 months ago

I just get so tired of hearing the left bitch and whine about taxing the rich and then turning around and trying to give them massive tax breaks.

 
 
 
zuksam
Sophomore Silent
2  zuksam    2 months ago

The Salt deduction was a favorite way for high tax states to steal revenue from the federal government. I support the SALT cap, 10,000 is a reasonable deduction. I feel bad for people who are being over taxed by their state and local governments but the Salt deduction had become a backdoor subsidy with no means testing.

 
 
 
Tacos!
Professor Expert
3  Tacos!    2 months ago

This would be the Democrat's version of "tax breaks for the rich."

 
 
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