SUOZZI DELIVERS MAJOR STEP TOWARDS VICTORY ON SALT RELIEF!

Today, as a result of his relentless efforts to right the wrong when Republicans imposed a $10,000 cap on the state and local tax (SALT) deduction, Congressman Tom Suozzi (D – Long Island, Queens) announced that the United States House of Representatives has successfully passed much-needed relief to middle-class families in New York. In the House, Suozzi was one of the lead negotiators who struck the deal to increase the SALT cap to $80,000. New York State was one of the hardest hit from the $10,000 SALT cap. Now, it must pass the Senate.

“This agreement to substantially raise the cap from $10,000 to $80,000 will help millions of New Yorkers keep billions of dollars in their own pockets” said Suozzi. "If passed in the Senate, New York's families will see this immediate relief when they file their 2021 income tax in April. This is a major step forward in our relentless pursuit to protect New York taxpayers."

“On behalf of the nation's mayors, I want to commend Congressman Suozzi for his hard work on this issue.  He never stopped fighting to restore the state and local taxes for middle-income families in all states.  Without his outstanding leadership, this relief would never have been possible,” said Tom Cochran, CEO and Executive Director of the United States Conference of Mayors.

“The International Association of Firefighters applauds Rep. Tom Suozzi for his dedication to strengthening local funding for fire departments by restoring the state and local income tax deduction...Through the Build Back Better Act and Rep. Suozzi’s leadership, the restoration of the SALT cap will allow local governments to have the funds needed to attain these critical public safety improvements,” said General President Edward Kelly, International Association of Fire Fighters

“…I applaud leaders like Rep. Tom Suozzi who are fighting to right this wrong as part of the Build Back Better Act and make sure that our tax code once again works for middle-class families and communities committed to funding good schools and services,” said Randi Weingarten, President of the American Federation of Teachers.

“Trump’s SALT cap was a deliberate attack on Democratic states like New York and its working families, impeding our State’s ability to fund progressive priorities in education, infrastructure, and housing. Raising the cap to $80,000 is a move in the right direction and I am glad to have partnered with my friend Congressman Suozzi in this effort – the benefits of this policy change will provide immediate relief for New Yorkers and allow our State to better plan for our shared future,” said Congressman Gregory W. Meeks.

“…This is a win for homeowners, our communities, and for the first responders who work every day to keep those communities safe.  We thank Representative Suozzi for his leadership and commitment to addressing the SALT cap,” said Bill Johnson, Executive Director, National Association of Police Organization.

“The state and local tax deduction, as one of six original deductions in the 1913 federal tax law, was imposed to prevent federal intrusion and dominance over state and local tax decisions and resources,” said National Association of Counties Executive Director Matthew Chase. “We thank Congressman Tom Suozzi…for...efforts to restore the SALT deduction…”

New York State Association of Counties Executive Director Stephen Acquario said, “Counties applaud Congressman Suozzi for his leadership in restoring the deductibility of state and local taxes, known as SALT. New Yorkers pay some of the highest property taxes in the nation…We call on Congress and the President to support this measure to restore fairness to the tax code.”

“The more than 1.5 million members of the National Association of REALTORS® thank Representative Suozzi for his tireless work on legislative solutions to address the imbalances and loss of incentives caused by limiting the deduction for state and local taxes (SALT). From launching the bipartisan SALT Caucus to repeatedly pushing to repeal or alleviate the cap, Representative Suozzi has championed this crucial issue,” said National Association of Realtors President, Charlie Oppler. “…Thanks to Representative Suozzi's leadership, more homebuyers will be able to achieve their American Dream.”

Below are the details of the SALT relief that Suozzi negotiated into the Build Back Better bill:

• Would raise the deduction cap to $80,000 for a nine-year period through 2030. It would then return to the current $10,000 level in 2031, and then phase out entirely.

Below is a breakdown of how many filers in different regions across New York claimed the SALT deduction before the $10,000 cap was placed.  The $80,000 SALT cap will provide relief to these hardworking taxpayers:

• Queens County: 361,840
• New York City: 1,388,120
• Nassau County: 366,910
• Suffolk County: 369,060
• New York State: 3,418,170

Suozzi’s efforts since the unfair cap on the SALT deduction was imposed is found below:

•  2017: Reps. Suozzi, King, and Zeldin Stand in a Bipartisan Call on Long Island for the 2017 tax bill to NOT include a cap on the SALT deduction
•  2019: Suozzi Appointed to the House Ways and Means Committee, the chief tax writing committee, where he continues his staunch advocacy for the repeal of the SALT cap
•  2019: House Passes Suozzi’s Bipartisan legislation to repeal the SALT cap (then Majority Leader Mitch McConnell refuses to act on this legislation which would provide relief to middle class families in high cost of living states)
•  2020: Rep. Suozzi and then Minority Leader Chuck Schumer Stand Together with Long Island Families unfairly targeted by the SALT cap calling for full repeal (during the event, Schumer said: “When we get in the majority we’ll do it permanently,” referencing repeal on the SALT cap)
•  2021: Rep Suozzi and Majority Leader Chuck Schumer introduce dual legislation to repeal SALT cap (legislation has over 100 bipartisan cosponsors across both chambers and is supported by major unions and middle-class advocacy groups)
• 2021: Suozzi Leads 10 Ways and Means Members of Congress in a letter to the White House requesting a meeting on SALT to urge that the next major legislative package includes SALT deduction relief
• 2021: After continuing to hear from middle-class constituents hurting from the SALT cap, Suozzi leads three other members in ‘No SALT, No Deal’ pledge and will oppose any changes to the tax code without restoration of the SALT deduction
• 2021: Suozzi and Rep. Nadler lead nearly the entire NY Delegation in which they say they stand ready to oppose any tax legislation that does not fully restore the SALT deduction
• 2021: Suozzi’s efforts to repeal SALT Cap goes noticed by New York media as Suozzi fights for middle class families
• 2021: Suozzi forms the Bipartisan SALT Caucus to advocate for restoration of the SALT Cap; Caucus gains over 30 members in 24 hours
• 2021: Suozzi organizes press event with Police, Teacher, and Firefighter Unions to highlight how the SALT cap unfairly targeted union families
• 2021: Suozzi organizes press event with national groups of mayors, county executives, and cities to highlight how the SALT cap has undermined the ability of local governments to effectively govern 
• Bloomberg: Mr. SALT' and N.J. Ally Fight Ocasio-Cortez to Revive Tax Break

Groups Suozzi organized with as part of his successful effort to repeal the SALT cap include: 

• U.S. Conference of Mayors
• National League of Cities
• National Association of Counties 
• International Association of Firefighters
• American Federation of Teachers
• National Education Association
• National Association of Police Organizations
• National Association of Realtors