Ranzenhofer launches petition drive to reject Federal budget proposal’s “Double Tax Plan”
- Eliminates state and local tax deduction on Federal tax return
- 139,101 WNY taxpayers would be hit with average tax hike of $2,800
- Over 3.2 million New Yorkers to see tax increase if enacted
State Senator Michael H. Ranzenhofer today urged New Yorkers to sign his new online petition, rejecting Federal budget proposals that would increase taxes on Western New Yorkers by an average of $2,800. Click here to sign the petition.
“If enacted, this federal budget proposal would negatively impact the budgets of thousands of Western New Yorkers. I am urging Western New Yorkers to say NO to a new $2,800 tax increase,” said Ranzenhofer. “It is important for residents to be heard on this issue. By working together, we can send a strong message to Washington that Western New Yorkers are not an ATM machine.”
New Federal budget proposals would end a longstanding policy of allowing taxpayers to deduct state and local tax liability, including property taxes, on Federal tax returns. Eliminating the deduction would effectively double tax residents, since residents would be subject to Federal tax on income used to pay state and local taxes.
The impact of the proposal in Western New York is estimated to increase tax bills by an average of $2,800 for over 139,101 residents. Federal tax bills for affected taxpayers would increase by an average of 30 percent.
Additional information is available in a report by Governor Cuomo, entitled Impact on New Yorkers of Federal Tax Proposals, at http://www.governor.ny.gov/assets/documents/Impact-of-Federal-Tax-Proposals.pdf.
About the 61st Senate District
The 61st Senate District encompasses: the Towns of Amherst, Clarence, and Newstead and the Villages of Akron and Williamsville in Erie County; all of Genesee County; and the Towns of Chili and Riga, the Village of Churchville and part of the City of Rochester in Monroe County.