Tags: Trump Tax Reform | peter king | votes no | if state and local taxes | not deductible

NY GOP Rep. King: High-Tax States 'Get Screwed by This Bill'

(Fox News' "Sunday Morning Futures")

By    |   Sunday, 12 Nov 2017 02:48 PM

Count Rep. Peter King, R-N.Y., in opposition to any tax reform plan that raises taxes on his voters by doing away with the state and local tax (SALT) deduction, as the current Senate plan does, because "I didn't go to Congress to hurt my constituents."

"Right now, I'm definitely voting no," Rep. King told Fox News' "Sunday Morning Futures." "What I find infuriating is people in the administration and House and Senate leadership say that because we lost the suburbs in Virginia, Long Island, and New Jersey, the answer to that is to pass a tax reform bill which is going to raise their taxes. They are the areas that are going to be hurt the most."

Rep. King pointed to his district having voted for President Trump by nine points after voting twice for former President Barak Obama, a 14-point turnaround.

"This is going to have a devastating impact on areas like mine and Long Island, and it's unfair," he told host Maria Bartiromo.

King added a scathing rebuke of those targeting high-tax states in order to "subsidize" the rest of the country.

"When people say it's a high tax state, one of the reasons we're high taxed is because so much of our revenue that goes to the federal government doesn't come back to us," King told Bartiromo. "We get $0.79 back on the dollar. Other states get much more back than they contribute into the federal government. New Jersey gets about $0.61 back on every dollar, so we get murdered on one end, and now we're going to get it again by taking away the most of the property tax deduction and all of the state income tax deduction, plus the individual exemption."

King pointed to the dangers of considering all wages and areas of the United States equal, because a middle class family in New York makes more than rural America.

"We're falling into this Democratic trap so we're going to tax the rich, but if you look at it, they're determining the rich to be hard working, middle and upper-middle income people," King added. "And yes, a family may be making over $400,000 and they're in their late 40s, early 50s and broken their neck for the last 20 years working their way up, and they weren't born with a silver spoon in their mouth.

"They're not hedge-fund people. These are hard-working people, and they get screwed by this bill, and I'm not going to vote for that. I didn't run for reelection so that I can go to my constituents and say that I raised your taxes to help people living in other states that already get subsidized by New York."

Despite Rep. King's lashing out against SALT deduction removal in tax reform, the current House bill allows SALT deductions up to $10,000, while the Senate version removes them entirely.

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Count Rep. Peter King, R-N.Y., in opposition to any tax reform plan that raises taxes on his voters by doing away with the state and local tax (SALT) deduction, as the current Senate plan does, because "I didn't go to Congress to hurt my constituents."
peter king, votes no, if state and local taxes, not deductible
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2017-48-12
Sunday, 12 Nov 2017 02:48 PM
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