tax overhaul

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Gov. Andrew Cuomo unveiled a $168 billion budget plan that would close an over $4 billion gap by reducing some spending and imposing tax increases on health insurers, big businesses and prescription opioid users, among others. Cuomo said he also wants to look into legalizing marijuana in New York.

“This is going to be challenging, my friends,” Cuomo told lawmakers gathered at the state museum for the budget presentation.

Stefanik campaign

Taxes were frequently brought up during a telephone town hall Thursday hosted by North Country Rep. Elise Stefanik (R-Willsboro). 

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Gov. Andrew Cuomo, in his State of the State speech this week, floated the idea of converting the state income tax to a payroll tax to help reverse the new federal law that limits deductibility for state and local taxes. Many support the concept, but businesses say it’s not so easy to make the change – and it could bring unforeseen complications.

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The new tax law is the most significant piece of legislation to come out of the Trump Administration so far, but the Republican congressional delegation from New York was split on it. North Country Republican Elise Stefanik (R-Wilsboro) voted against the plan, saying it didn't do enough to preserve state and local tax deductions, which the final bill capped at $10,000.

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Gov. Andrew Cuomo delivers his State of the State address on Wednesday, kicking off a challenging year of budget deficits and re-election races.

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Onondaga County is making it easier to pay town and county taxes early with a new online system, and it comes at a time when some taxpayers are considering paying their local taxes early.

A new program called E-Tax launches Wednesday that will allow Onondaga County residents to get an early look at their local government tax bills, before paper copies of those bills are mailed later in the week. 

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Gov. Andrew Cuomo, who’s vowed to lead a campaign against the state’s Republican Congressional representatives in the 2018 elections, has spent the final weeks of 2017 feuding with them over their votes on the federal tax overhaul bill.

Cuomo has been saying for weeks that the overhaul would be “devastating” to New York’s finances and to many of its taxpayers, and he’s called Republican House members who support the plan “traitors” and “Benedict Arnolds.” 

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Central New York Rep. John Katko (R-Camillus) says the tax overhaul bill he voted for is even better after it went through the conference committee with the Senate version. It retains the historic tax credit, which was used to restore the Hotel Syracuse, it no longer taxes the tuition waivers that some graduate students use to pay for school and it allows taxpayers some flexibility on whether they want to deduct their state income, sales or property taxes - capped at $10,000.

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The House of Representatives passed sweeping legislation aimed at rewriting the nation's tax code Tuesday, by a vote of 227-203. 12 Republicans voted against the bill, five of them are from New York.

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County leaders across New York are the latest to complain about the tax overhaul plan now being crafted in Congress. They predict higher taxes for many New Yorkers, declining home prices and slowed economic growth.

Albany County Executive Dan McCoy said the federal tax bill will lead to many middle- and upper-class New Yorkers paying higher taxes because of the proposed end to state and local tax deductions. And he said the state’s over $4 billion projected deficit and potential funding cuts aren’t helping either.

“Brace yourselves,” McCoy said.

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One of the biggest challenges that Gov. Andrew Cuomo and state lawmakers will face in 2018 is balancing the state’s budget, which already has a structural deficit of more than $4 billion. On top of that, federal changes to taxes and health care could cost the state billions more in lost funding.

State tax revenues are down, contributing to the largest structural budget gap in seven years. State Comptroller Tom DiNapoli estimates the deficit to be about $4.4 billion.

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The governors of New York, California and New Jersey on Monday strongly condemned the GOP tax bill now before Congress, saying it is unfair to their states and will wreak havoc on the U.S. economy.

In a conference call, New York Gov. Andrew Cuomo said the federal tax overhaul plan that severely restricts state and local tax deductions is “political retaliation” against 12 states that are run by Democrats.

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Gov. Cuomo today continued to slam the four Congressional Republicans from New York who voted for the GOP tax overhaul plan.

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The Congressional Budget Office report released Sunday finds that the Senate tax overhaul bill harms the poorest Americans even more than originally thought. 

The CBO finds that Americans making $30,000 or less would be worse off under the Senate tax plan by 2019. Those earning $40,000 or less would be net losers under the plan by 2021. And by 2027, U.S residents who make $75,000 or lower would be worse off under the plan.

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Now that the House of Representatives has voted for a tax overhaul plan that some state leaders say will harm New York, the action moves to the Senate, where a vote is expected after Thanksgiving.

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Gov. Andrew Cuomo is slamming the tax overhaul plan passed Thursday by the House of Representatives, saying it will be “poison” to New York.

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Most of central and northern New York’s members of Congress voted for the Republican tax overhaul bill which passed the House of Representatives Thursday.

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Gov. Andrew Cuomo and Sen. Chuck Schumer (D-NY) are once again warning that New Yorkers will be hurt if the Republican tax overhaul plan in Congress is approved.

Schumer, who is Senate Democratic Leader, says while the tax plan has changed from the original version, 71 percent of the deductions that now benefit state residents would be eliminated. The plan would end deductions for state and local income taxes, and cap the property tax deduction at $10,000 a year. 

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Central New Yorkers who oppose a sweeping overhaul to the tax code supported by Republicans and President Donald Trump made their case outside a roundtable meeting with Small Business Administrator Linda McMahon and local congressional representatives in Syracuse today.

The proposed changes take away certain deductions, like state and local taxes, but increases a taxpayers personal deduction. Opponents like Sharon Owens of Syracuse call that a scam.

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The tax plan unveiled by Republicans in the House of Representatives Thursday would disproportionately raise taxes on those living in Northeast states like New York, New Jersey and Connecticut. Many lawmakers from the region, including Republicans, are against the plan.

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Twenty Republicans voted against a 2018 budget plan in the House of Representatives Thursday, seven of them from New York. The resolution passed the house by a 216-212 vote. 

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The state’s governor and senior U.S. Senator teamed up Monday to urge New York’s congressional delegation to oppose a provision in the federal tax overhaul plan that they say could be harmful to the state’s taxpayers and economy.

Speaking outside a suburban home in Albany County, Sen. Chuck Schumer and Gov. Andrew Cuomo called the federal plan to get rid of the state and local tax deductions "double taxation." Schumer said middle-class New Yorkers will pay more money in taxes each year if the proposal is approved.

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Rep. Tom Reed (R-Corning) got an earful from an angry crowd in Seneca County over the weekend. He tried to keep things calm at the Romulus Central School town hall on Saturday, but tempers frequently boiled over.

Many of those who attended the event excoriated the Republican for voting for a House budget resolution that would make major cuts to Medicare and Medicaid, while at the same time lower taxes for the wealthy.

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A group of protesters recently gathered outside of Mohawk Valley Congresswoman Claudia Tenney's (R-New Hartford) office in New Hartford. They were upset with the Republican representative's vote for a budget resolution that they say would gut services for many New Yorkers who are in need of assistance.

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The tax overhaul plan proposed by President Donald Trump and now being considered in Congress would end the deduction on federal income tax forms for state and local property taxes. Gov. Andrew Cuomo said it would disproportionately harm New Yorkers, where property taxes are among the highest in the nation, and he’s taken opportunities at recent public events to make the case against the plan.

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Central New York Rep. John Kato (R-Camillus) opposed Republican Party bosses last week by voting against the proposed budget in the House. He was one of 18 Republican members of Congress who voted against the plan that passed on Thursday.

Katko says it ultimately shifts more costs to New Yorkers, and that’s not fair. He says those cuts that would hurt the state include reductions in Medicaid and SNAP programs, as well as transportation spending.

Payne Horning / WRVO News File Photo

Finger Lakes Rep. Tom Reed (R-Corning) says passing tighter gun control laws is not the way to respond to the Las Vegas shooting Sunday that left 59 people dead and hundreds injured. Some lawmakers are advocating for new measures after police revealed that the alleged shooter in the deadliest mass shooting in modern U.S. history had scores of weapons, but Reed says that approach only offers false security.

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New York’s Democratic lawmakers are vowing to fight President Donald Trump’s tax overhaul proposal, perhaps even in court.

Meanwhile, a think tank’s analysis finds some middle-class New Yorkers could save a small amount of money under the income tax portion of the plan.

Gov. Andrew Cuomo said the tax overhaul plan and the proposal to eliminate state and local tax deductions from federal income taxes would be “devastating” to New York.

“It is a tax increase plan,” Cuomo said Thursday on Long Island. “Period.”

Cuomo said he might sue.