New York Governor Andrew Cuomo and U.S. Senate Minority Leader Chuck Schumer are once again warning that New Yorkers will be hurt if the Republican tax overhaul plan in Congress is approved.
Schumer, a New York Democrat, says while the tax plan has changed from the original version, 71 percent of the deductions that now benefit state residents would be eliminated. The plan would end deductions for state and local income taxes, and cap the property tax deduction at $10,000 a year.
“The plan will increase taxes on New Yorkers by $16 billion,” Schumer said in a joint conference call with Cuomo.
Cuomo says the plan would undo seven years of work that his administration has done to keep taxes and spending steady in New York.
“President Trump said this is a Christmas gift,” said Cuomo. “If it's a Christmas gift, New York gets a lump of coal from Santa Trump on this one.”
Cuomo and Schumer are calling on four New York Republican House members - Claudia Tenney, John Faso, John Katko and Elise Stefanik, who have all expressed reservations about the provision, to vote against the tax plan. They also urge the proposal’s supporters, GOP congressmen Chris Collins and Tom Reed, to change their minds. The Democrats say the plan would lead to tax increases for many of the Congress members’ constituents.