New York Lawmakers Push for SALT Cap Repeal
Real Estate In-Depth | March 26, 2021
WHITE PLAINS—New York federal representatives and Westchester County Executive George Latimer staged a press conference on March 25th at the home of a White Plains resident to push for the repeal of the controversial SALT (State and Local Tax) deduction cap.
U.S. Rep. Mondaire Jones (NY-17), U.S. Rep. Tom Suozzi (NY-03), U.S. Rep. Jamaal Bowman (NY-16), and Westchester County Executive George Latimer called for the repeal of SALT Cap ($10,000) to be included in the next package to come out of Washington, DC. The elected officials held a joint press conference outside the home of Ayeshah and Brian Parker who are negatively impacted by the SALT cap.
“Since the previous President capped the SALT deduction at $10,000 in 2017, hundreds of thousands of people in my district, where we pay the highest property taxes in the entire nation, have been forced to pay thousands of dollars more in taxes each year—a crushing burden for middle-class families, and a key contributor to the affordability crisis here in our district,” said Rep. Jones. “That is why U.S. Rep. Suozzi and I, with U.S. Rep. Bowman as a cosponsor, introduced the SALT Deductibility Act. Our bill would fully restore the SALT deduction and put thousands of dollars back into the pockets of hundreds of thousands of working people here in Westchester—money that can be spent on housing, food, transportation, child care, health care, and so much more.”
In January, Reps. Jones and Suozzi, along with U.S. Sen. Charles Schumer, introduced the SALT Deductibility Act, which would remove the $10,000 cap on the SALT deduction and bring urgently needed, direct tax relief to impacted homeowners
“We are in a battle to save New York! Every day the SALT cap remains in place, New Yorkers hurt. The SALT cap is crushing New York and many other high-cost progressive states,” said Rep. Suozzi. “Higher income residents are fleeing our state for lower-taxed states that don’t provide the same level of services. As New York loses population, we also lose influence in the Congress even though we are the largest net donor to the federal government. My top priority in Congress remains to repeal this unfair cap on our state and local tax deduction.”
“The SALT deduction cap passed during the Trump administration has caused financial distress for so many of my constituents,” U.S. Rep. Bowman said. “We are dealing with the worst pandemic in 100 years, which has devastated our communities, and must do everything we can to put money back into the hands of New Yorkers and make people whole. I’m proud to co-sponsor this legislation which would do just that by eliminating the cap on SALT deductions.”
“The largest tax increase hardworking Westchester residents have seen was the elimination of the SALT Tax Cap by the GOP controlled Congress in 2017. This tax increase most greatly impacts middle-class Westchester residents who are already struggling,” said Westchester County Executive George Latimer. “Thanks to Congressmen Suozzi, Jones and Bowman, and our U.S. Senators Schumer and (Kirsten) Gillibrand, the SALT Deductibility Act will reverse this added burden and provide much needed relief to residents who choose to live in Westchester because of all it has to offer. No longer should residents of states with greater public services be forced to carry weight for states that receive more in federal funds then they give.”
“We love our community, but Westchester is a hard place to try and stretch a dollar,” said White Plains homeowners Ayeshah and Brian Parker. “So, you might imagine, every penny of our income goes towards raising our family. Restoring the SALT deduction would present the opportunity to continue to do our best as parents to provide the quality of life for our children they deserve. and that we work hard to achieve.”
Back in January, a host of other federal and state lawmakers praised the SALT Deductibility Act. Sen. Gillibrand said, “The reinstating of the SALT Deduction will ensure that New York families have more money in their pockets, get much-needed tax relief and will once again be treated fairly.”
New York State Senate Majority Leader Andrea Stewart-Cousins noted that over the last three years, “Trump’s unfair attack on Blue States has cost New Yorkers over $30 billion, while wealthy corporations saw tax breaks.”