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Peter King: I Oppose Tax Bill if Local Taxes Not Deductible

Image: Peter King: I Oppose Tax Bill if Local Taxes Not Deductible

By    |   Sunday, 05 November 2017 12:09 PM

New York GOP Rep. Peter King said Sunday he’s a “no” vote on the Republicans’ tax plan because it of its removal of a tax deduction for state and local income taxes.

In remarks to ABC News’ “This Week,” King said the end of the tax break would be “devastating” to New York and New Jersey.

“I’m a Ronald Reagan, Jack Kemp Republican when it comes to tax cuts,” he said. “I believe in tax cuts. I believe they worked under John Kennedy, they worked under Ronald Reagan. But this particular tax bill, by taking away the state and local tax deduction has a particularly devastating effect on New York and New Jersey.”

“We already get treated unfairly,” he said. “New York gets back only 79 cents on the dollar that's sent to Washington, $48 billion deficit on money we have as far as money that we send to Washington that we don't get back. And since 1913, it's been a principle not to have a tax on a tax.”

He said the removal of the incentive is penalizing states, noting the GOP “has always stood for federalism, encouraging local and state governments to do all that they can as opposed to the federal government.”

“It would have an extremely damaging effect on my constituents who are middle, in some cases upper middle, but mostly middle income,” King said, adding: “the main objection I'm getting in my district are from [President Donald] Trump voters.”
 

“I just don't want the rest of the country to be growing and more and more people either have to move out of New York or have to lose their homes,” he said.

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New York GOP Rep. Peter King said Sunday he's a "no" vote on the Republicans' tax plan because it of its removal of a tax deduction for state and local income taxes.In remarks to ABC News' "This Week," King said the end of the tax break would be "devastating" to New York...
peter king, oppose, tax bill, if local taxes, not deductible
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2017-09-05
Sunday, 05 November 2017 12:09 PM
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