SELKIRK, N.Y. — New York Gov. Andrew Cuomo and U.S. Sen. Charles Schumer teamed up Monday to denounce a tax overhaul proposal from Republicans in Washington that they say would hurt middle-class homeowners.
The two Democrats appeared outside the home of a suburban Albany family Monday to urge the state’s Republican congressional delegation to oppose what they said is a partisan attempt to hurt big Democratic states such as New York and California.
“Congress has placed a bull’s-eye on New York state,” Schumer said. “You don’t have to have a partisan nose to smell a rat, and this plan stinks.”
Taxpayers may now deduct the amount of their state and local taxes from federal taxes. It’s an especially enticing option in high-tax states such as New York. Cuomo’s office said that if the plan passes, nearly a third of residents in Albany County would pay some $3,000 more in taxes per year.
“This is probably one of the most destructive policies to the state of New York I’ve heard proposed in 30 years,” Cuomo said. He noted that New York already pays far more in federal taxes than it gets back from Washington in federal spending — $48 billion more.
Several Republican members of Congress from New York have already criticized the elimination of the deduction. In June, Reps. Dan Donovan, John Faso, Peter King, Claudia Tenney, Elise Stefanik, John Katko and Lee Zeldin wrote to U.S. Treasury Secretary Steve Mnuchin urging the administration to reconsider plans to end the deduction.
Republicans argue their plan would also increase the standard deduction and reduce business taxes in an effort to spur the economy. Supporters of eliminating the deduction say it’s not fair to make the entire country pay for a deduction that taxpayers in certain states use in high numbers.
Negotiations over the proposal are continuing in Congress.