Republicans need that revenue to help offset the big tax cuts they want to pass.
Not exact matches
Eliminating the state and local tax deduction would raise about one - quarter of the $ 4 trillion in
revenues that some
Republicans say they
need to prevent tax cuts from creating a massive increase in the federal budget deficit.
This
Republican Congress has taken the governing tools of past administrations out of the hands of the President, and made it impossible to provide a viable Presidential stewardship of the Economy, that would include raising
revenues to pay down the National debt, provide stimulus to the economy that would create more jobs to help build
needed infrastructure.
The state may
need to find more
revenue or cut spending if a
Republican tax plan as written that ends or limits the deductability of state and local taxes is approved in Congress, Gov. Andrew Cuomo said on Wednesday in a conference call.
The
Republican - led federal government has toyed with several decisions that Cuomo has said would drastically cut
needed revenue to the state.
They can't get it through the Legislature, because the
Republicans control the Senate, and because the Legislature
needs to raise several billion dollars in new
revenue to meet a State Supreme Court mandate about funding the public schools.