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Suozzi: “No SALT, No Deal” - Will Oppose Any Changes to Tax Code Unless Cap on SALT Deduction is Repealed

March 30, 2021
Press Release
With only a 3 vote Democratic Majority in the House, Suozzi will work to have other Members join his pledge

Today, Congressman Tom Suozzi (D-Long Island, Queens) issued the following statement:

 

“No SALT, no deal. I am not going to support any change in the tax code unless there is a restoration of the SALT deduction. The cap on the SALT deduction has been a body blow to New York and middle-class families in New York. Without the full SALT deduction, families will continue to leave our state and the last thing we need is to lose our residents and taxpayers. Every day the SALT cap is in place, the taxpayers of New York are hurting.”

 

“I have worked relentlessly on this issue. In 2019, my legislation to restore the SALT deduction was passed in the House of Representatives, only to die in the Senate led by Mitch McConnell. The people of New York need relief now. The cap must be repealed.”

 

In Congress, Suozzi sits on the powerful House Ways and Means Committee and leads bipartisan legislation in the House with 106 cosponsors to have the SALT cap repealed. In the Senate, Majority Leader Chuck Schumer leads companion legislation. The proposal would allow taxpayers to fully deduct their state and local taxes on their federal income returns. At the end of 2017, the deduction was capped at $10,000 and resulted in a tax increase for many middle-class families across New York.

 

Rep. Suozzi has continued to highlight why the cap on the SALT deduction is unfair to New York:

  • New Yorkers already subsidize other states by paying $20-30 billion more in taxes than we receive back from the federal government;
  • The repeal of the SALT deduction results in double taxation by imposing federal taxes on the income used to pay state and local taxes;
  • The elimination of the deduction drives wealthier people to other states and leaves middle- and lower-income taxpayers to pay either increased taxes to make up the difference or face cuts in services, effectively holding the bag to pay for school, police, and other essential state and local tax burdens.

 

In addition to bipartisan support in the House of Representatives, a repeal of the SALT deduction is supported by state leaders and several national leaders including:

 

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