WH budget director: Don’t blame feds for New York’s high taxes

Wednesday, 15 November 2017, 03:43:06 PM. WASHINGTON – President Trump’s budget director Tuesday fiercely defended the elimination of state and local tax deductibility in the federal tax overhaul, saying the White House can’t be blam…
WASHINGTON – President Trump’s budget director Tuesday fiercely defended the elimination of state and local tax deductibility in the federal tax overhaul, saying the White House can’t be blamed that people are fleeing New York because of high taxes. “Is it the federal government’s fault that New York tax is so high that they are driving people out of the state?” Budget Director Mick Mulvaney said in an interview with regional reporters. Mulvaney pushed back on Gov. Cuomo’s assertion that removing the state and local tax deductions (SALT) would be such a deathblow that wealthier taxpayers would leave the state. Mulvaney said people are already relocating from New York with the tax break in place. “I don’t think it’s up to the federal government to save New York from its bad decisions,” he said. The House is set to vote on a tax reform plan this week that would eliminate the ability of New Yorkers to deduct state and local income taxes on their federal tax returns and cap property tax deductions at $10,000. The Senate plan would hit New Yorkers even harder by completely eliminating the property tax benefit, too. Irate New Yorkers point out that New York already subsidizes the rest of the country. In 2015 alone, New York contributed $48 billion more in taxes to the federal government than it received in federal spending – the largest negative balance of any state, according to a Rockefeller Institute of Government Study. ‎”Mulvaney should know better and he does,” Cuomo said in...Read more
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