SENATOR LANZA LAUNCHES PETITION TO FIGHT FEDERAL TAX SCHEME Urges New Yorkers to Oppose Washington D.C. Plan to Increase Taxes on New Yorkers by $4,500
Senator Andrew Lanza today called on fellow New Yorkers to sign his new on-line petition urging the rejection of Federal budget proposals that would cost New York taxpayers billions of dollars annually. The petition to oppose this “Double-Tax Plan” can be found at www.lanza.nysenate.gov.
“From Obamacare taxes to the new Federal payroll tax hike, New York taxpayers keep getting hammered by policies being enacted in Washington D.C.,” Senator Lanza said. “And now -- adding insult to injury -- some in Congress and the Administration are threatening to make matters worse by increasing taxes on New Yorkers by $4,500.
“New York taxpayers are not an A.T.M. machine for the Federal government, and I urge all New Yorkers to make their voice heard on this important issue. By working together, we can send a loud and clear message to Washington that New Yorkers are not going to tolerate this misguided plan.”
For decades, there has been a major imbalance between what New York sends to Washington D.C. each year, and what our State gets in return from our Federal government. New Federal budget proposals would exacerbate this imbalance by ending a longstanding policy of allowing taxpayers to deduct their state and local tax liability, including property taxes, from their federal taxes.
Senator Skelos recently joined with Governor Cuomo and several members of New York’s Congressional delegation in opposing this “double-taxation” measure. Estimates show that the measure would result in a nearly $15 billion tax increase for New York families -- an average increase of more than $4,500 per taxpayer. The average Federal tax bill for affected taxpayers would increase 30 percent.
The Senator also pointed out that Long Island would be hit especially hard by the misguided proposals, with more than 915,00 taxpayers being saddled with an average new tax increase of $4,300.
The Federal government has already enacted a series of recent initiatives that have increased the tax burden on New Yorkers by a staggering $151 billion – or $15 billion annually. For example:
<!--[if !supportLists]-->· <!--[endif]-->Obamacare alone includes tax increases that will cost New Yorkers $21 billion over the next 10 years.
<!--[if !supportLists]-->· <!--[endif]-->Obamacare will also hit New Yorkers with $65 billion in increased Medicaid costs.
<!--[if !supportLists]-->· <!--[endif]-->The new Federal payroll tax increase will also cost New Yorkers $65 billion.
The total impacts statewide -- and regionally – from the new “double-taxation” plan are outlined in the following chart:
Regional Impact of Proposed Repeal of State and Local Taxes Paid Deduction
# Taxpayers Impacted
New York City
Additional information can be found in the report Governor Cuomo recently submitted to Congress that details the devastating impact these proposals would have on New Yorkers: http://www.governor.ny.gov/assets/documents/Impact-of-Federal-Tax-Proposals.pdf