Maloney Statement on House GOP Tax Plan
WASHINGTON, DC – Congresswoman Carolyn B. Maloney (NY-12) released the following statement after House Republicans released their new tax plan.
“The GOP’s tax plan is a complete and total disaster. It would raise taxes on the middle class, double tax New Yorkers, increase the national debt, and lay the ground work for devastating cuts to Social Security, Medicare, and Medicaid.
“Right now, New York is the largest donor state in the nation. In 2015 alone, we sent $48 billion more in taxes to the federal government than we received back. Under this new GOP plan, that inequity will become even worse. That is because the GOP bill eliminates the State and Local Tax (SALT) deduction while also capping property tax deductions.
“The SALT deduction is the most widely used benefit in the tax code in New York. If Congress approves this partial elimination of the SALT deduction, it will create tremendous pressure on state and local governments to cut back funding for schools, infrastructure, health, local law enforcement, and first responders. This tax plan penalizes New Yorkers for taking care of our own. That is totally unacceptable.
“I will be voting against this harmful GOP tax hike plan and urging my colleagues to do the same. Our country needs and deserves a far better deal that puts middle class families and protects New Yorkers from this outrageous double taxation plan.”