Avella Hails Bill Passage Offsetting Negative Impacts Of Fed Tax Reforms
State Sen. Tony Avella (D-College Point, Whitestone, Bayside, Flushing, Jamaica Estates, Fresh Meadows, Bellerose, Floral Park, Jamaica, Douglaston, Little Neck, Auburndale, Kissena Park, Briarwood) yesterday hailed the seante’s passage of bill S6974A that seeks to amend New York State tax law in relation to the federal government’s decision to limit the amount of state and local tax (SALT) you can deduct from federal income tax filings.
The measure creates a tax credit equal to any federal tax increase caused by a Washington tax reform plan that eliminates state and local tax (SALT) deductions.
In other words, the federal tax reform bill currently does not allow residents deductions on anything over $10,000 in state taxes. The new bill will allow residents to take a tax credit for anything over the $10,000 they pay, which would cancel out the loss of the federal deduction.
The bill, which was introduced by Senator Simcha Felder (D-Brooklyn) and passed the New York State Senate 60-0, will save New Yorkers $1.5 billion.
“I am proud to have voted in favor of an important bill in the Senate today that will protect New York State residents from the negative impacts of the new, misguided federal tax law that takes money out of the pockets of New Yorkers. Under this bill New Yorkers will be able to take the full deduction for state and local property taxes in their state income tax filings which will help to soften the blow of the harsh new federal tax law,” said Senator Avella.
Crowley Celebrates Elimination of the Poll Tax Anniversary
U.S. Rep. and House Democratic Caucus Chairman Joe Crowley (D-Sunnyside, Astoria, College Point, East Elmhurst, Jackson Heights, Corona, Woodside, parts of the Bronx) yesterday celebrated the 54th anniversary of the ratification of the 24th amendment of the United States Constitution, which eliminated the poll tax.
Poll taxes, also known as head taxes, soul taxes, or capitation taxes, are taxes that are levied upon individuals, rather than on income or property. The poll tax was often used to enforce this country’s Jim Crow era (1870’s to early 1960s), laws – state and local laws that enforced racial segregation in the Southern United States. It often supressed the ability for blacks to vote.
“Fifty-four years ago, the United States eliminated the poll tax – a regressive levy that disenfranchised millions of Americans and kept minorities and low-income individuals from using their voice and their vote,” said Crowley.
“This was an important step toward ending institutional discrimination in the United States. But while we continue to make progress, many states still allow discriminatory voting laws and uphold gerrymandered districts designed to purposefully suppress the vote of black, Hispanic, and working-class populations. This is unacceptable. We must continue to fight to ensure that every voter is truly equal.”