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Liberal Lawmakers Blast GOP's 'Screw the Northeast' Tax Bill

Image: Liberal Lawmakers Blast GOP's 'Screw the Northeast' Tax Bill
A demonstrator holds a sign at a rally in opposition to the Republican tax bill held in lower Manhattan in New York, on Dec. 2, 2017. (AP)

By    |   Tuesday, 19 December 2017 09:12 AM

Liberal lawmakers from high-taxed blue states are blasting the GOP's tax legislation as a power play that will have a deleterious effect on their economies, Politico reported.

Republicans have the numbers in Congress and they used it to get one over on the northeast and California — bastions of Democrats and people who don't vote red.

"As far as I'm concerned, this is the screw-New Jersey bill," Piscataway, New Jersey, Mayor Brian Wahler told Politico. "New York, New Jersey, Connecticut: Screw the Northeast."

The Senate bill — and ultimately the final bill in conference — tweaked the State and Local Tax (SALT) deductions to assuage blue-state Republican senators from high-tax states who feared a backlash because of this very issue.

Republicans, however, still drastically slashed SALT deductions, capping them at $10,000; the top 10 counties for SALT deductions in 2014 came from New York, New Jersey, Connecticut and California, Politico reported.

The SALT deduction was worth nearly $25,000 on average in New York County, Politico reported.

Further, the GOP bill eliminates a host of other deductions that helped urban America, including bike commute subsidies and breaks for refinancing municipal bonds, Politico reported.

"The entire economy could be very unsettled by this tax bill," Matthew McNally, director of federal affairs for New York City Mayor Bill de Blasio, told Politico. "The finest point I can put on it is that it will increase our borrowing cost, which will put pressure on the budget."

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Liberal lawmakers from high-taxed blue states are blasting the GOP's tax legislation as a power play that will have a deleterious effect on their economies, Politico reported.
liberal, lawmakers, blast, gop, tax bill
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2017-12-19
Tuesday, 19 December 2017 09:12 AM
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