Post by BEAC0NJET on Nov 16, 2017 14:44:10 GMT -5
I voted today against the tax reform legislation that was on the House floor. I voted NO even though I strongly support across-the-board cuts.
As President Kennedy said when he introduced his historic tax cut legislation: "A rising tide lifts all boats."
Today's legislation, however, increased taxes on New York and Long Island to pay for tax cuts for most of the rest of the country. Specifically by eliminating the deduction for state income taxes and reducing the deduction for property taxes (SALT), this legislation would raise taxes on many Long Islanders.
This would add to the inequity which currently exists which has New York paying $48 billion more in revenues than we get in return. We get back only 79 cents for every dollar that goes to Washington, D.C. This means New York is subsidizing many other states. For instance South Carolina gets $1.71 back for every dollar and $23 million more than it pays in.
This legislation is unfair, inequitable and damaging to the constituents of the 2nd Congressional District, Long Island and New York. Despite today's vote, the process is not over. I will keep up the fight!!
As President Kennedy said when he introduced his historic tax cut legislation: "A rising tide lifts all boats."
Today's legislation, however, increased taxes on New York and Long Island to pay for tax cuts for most of the rest of the country. Specifically by eliminating the deduction for state income taxes and reducing the deduction for property taxes (SALT), this legislation would raise taxes on many Long Islanders.
This would add to the inequity which currently exists which has New York paying $48 billion more in revenues than we get in return. We get back only 79 cents for every dollar that goes to Washington, D.C. This means New York is subsidizing many other states. For instance South Carolina gets $1.71 back for every dollar and $23 million more than it pays in.
This legislation is unfair, inequitable and damaging to the constituents of the 2nd Congressional District, Long Island and New York. Despite today's vote, the process is not over. I will keep up the fight!!
In parallel, I hope Congressman King is doing something to fight our egregiously high State and Local taxes.
But we certainly dont need to be funding the rest of the country.
