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Cuomo, Faso agree on part of Trump tax plan

Sep 29, 2017 6:45 am

Richard Moody is reporting for Columbia-Greene Media that in an uncommon moment of consensus, U.S. Rep. John Faso and Gov. Andrew Cuomo agree the federal proposal to eliminate deductions on state and local taxes would hurt New Yorkers by doubling their tax burden. The proposal is part of President Donald Trump’s larger tax reform plan, unveiled Wed., Sep. 27. Officials spoke out Thursday, stressing the tax plan would hurt working and middle class New Yorkers. The president's plan includes consolidating certain tax brackets, reducing the corporate tax rate to 20 percent and eliminating federal deductions on state and local property and income taxes from federal taxable income. Cuomo focused his criticism on the part of the plan that proposes eliminating deductions people can file for on their federal taxes for certain state and local taxes. “...I believe it’s unconstitutional. And it is a pure tax increase,” Cuomo said. Faso, a Republican, who has disagreed with the Democrat governor over health care policies, agreed with Cuomo this time, opposing the elimination of the federal tax deductions. “I remain opposed to eliminating the deductions for state and local taxes as this would represent, in effect, double taxation on the taxes paid to state and local governments,” Faso said. Read the full story at HudsonValley360 [dot] com.

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