Schumer says GOP tax plan “put a dagger to the heart of New York”
On Monday, Schumer rejected Ryan and Brady’s claim. The New York senator said the GOP tax plan is targeting the “middle-class benefits.” It also “puts a dagger to the heart of New York” because it is taking away state and local tax (SALT) deductions.
According to him, the GOP’s so-called compromise on the SALT deductions is still unacceptable. He explained that the compromise still takes away 71% of the critical deductions.
Schumer said, “In other words, for every dollar they were going to take away before from New Yorkers, now they’re taking 71 cents. It’s as if they said, well, in the past we’ll chop off five of your fingers, now we’ll only chop off three or four. Aren’t we doing you a big favor? That is not how the world works.”
According to the senators, New Yorkers want to get full deductions on property tax, income tax, and sales tax.”
New Yorkers will suffer an average tax increase of $5,300
Additionally, Schumer said the GOP tax plan will increase taxes on New Yorkers by $16 billion. The average increase on taxes per person is around $5300. It affects around three million taxpayers in New York.
