Sen. Charles Schumer is using the visit of Vice President Mike Pence to draw attention to the potential impact of the GOP-proposed tax plan would have on WNY, including in the congressional district of Rep. Chris Collins.
Schumer said that in the NY-27, 29 percent of taxpayers take a deduction for paying state and local taxes for an average deduction of $12,125.
The GOP plan calls for the elimination of the deduction.
“Eliminating the state and local deduction, while slashing taxes for the wealthy and huge corporations, will hurt middle-class taxpayers, and various attempts at a ‘compromise’ are just as bad," Schumer said in a release. "If the Republicans cap the state and local deduction too high, they will still blow a huge hole in the deficit. Cap it too low, and they’ll continue socking it to the middle class. And forcing people to choose between the state and local deduction and other deductions is like offering to taxpayers to cut off one hand or the other."
We asked Schumer's office for data on Genesee County and locally, a press aide provided a link to the Tax Foundation, which shows the average state and local tax deduction for Genesee County is $2,257. (The formula for this calculation appears to be different then the calculation presented by Schumer's office in the second paragraph above. That formula is the average of the 29 percent taking the deductions; this formula, according to the article, is an average of all filers in the county.)
To claim the deduction, filers must itemize their deductions, which might include things like health care costs, mortgage interest, and charitable contributions.
Filers who don't itemize can take the standard deduction, which is currently $6,350 for single filers and $12,700 for married couples.
The current GOP tax plan calls for simplifying deductions and increasing the amount of the standard deduction.
Collins expressed support for elimination of the state and local tax deduction in an interview with The Batavian last year when we produced our series on Trump, trade and the local economy.
“When Vice President Pence arrives in Buffalo today, I hope he’s prepared to explain why he wants to hike taxes on thousands of middle-class families in the Buffalo area and across the country," Schumer said. "It hurts the middle class; it hammers the New York economy; and, it undermines property values."
Of course Collins, as a
Of course Collins, as a business owner, would support a tax reform plan that would lower his corporate taxes.. Elimination of SALT ( state and local taxes) would hurt the average home owner.
http://www.cnn.com/2017/10/12
http://www.cnn.com/2017/10/12/politics/chris-collins-investigation-hous…
OK - Who voted for this guy? Raise your hand really high...now bring it back just a touch...and now smack yourself in the back of the head for voting for such a bonehead.
Tom and Tim are spot on.
Tom and Tim are spot on. Chris Collins looks out and cares for himself and his fellow rich buddies. It is nice to see Senator Schumer speak the truth. And by the lack of usual comments on here by the Tea Party 2nd Amendment crew maybe others are seeing through the Pence and Collins agenda. Maybe Assemblyman Hawley can issue a press release on this topic? Which side is he on? The side of the rich like Pence and Collins or the side of the vast majority of residents in the GLOW? I think I know the answer to that question....