Sentences with phrase «cap on taxpayer»

Q: The budget would gradually lift the 1,000 - student cap on taxpayer - funded vouchers for private schools under the statewide program.

There will be caps on taxpayer - underwritten loans — imagine that.

Not exact matches

By narrowly focusing on the $ 10,000 SALT cap, state lawmakers are pursuing an economic fix for the very taxpayers who will benefit most from the federal tax bill.

The Rockefeller Institute of Government, which released a new state revenue report on Monday, said that «The Tax Cuts and Jobs Act (TCJA), enacted in late December 2017, created strong incentives for some high - income taxpayers to act fast and prepay their state and local income and property taxes to take advantage of the expiring tax breaks, namely the state and local tax (SALT) deduction, which is capped at $ 10,000 per year as of January 1, 2018.»

Caps on total itemized deductions could also reduce charitable giving because the caps reduce, and in many cases remove, incentives for high - income taxpayers to gCaps on total itemized deductions could also reduce charitable giving because the caps reduce, and in many cases remove, incentives for high - income taxpayers to gcaps reduce, and in many cases remove, incentives for high - income taxpayers to give.

Experts expect that other elements of the tax bill — including the near - doubling of the standard deduction and the $ 10,000 cap on property, state and local income taxes — will mean fewer taxpayers itemize.

Brady told Hewitt on Tuesday that he was not inclined to change the mortgage interest provision — which would cap the amount of interest a taxpayer could deduct for a primary residence and eliminate it entirely for a second home — and played down the potential economic impact of the change.

«We have led the way on controlling state spending, capping local property taxes, and soon, millions of middle class taxpayers will get to keep more of their income to invest and spend as they see fit.

Westchester County Executive George Latimer pointed to the $ 10,000 cap on state and local tax deductions by the federal government as having «changed the game» for taxpayers in New York, making the limit on tax levy increases all the more important.

Tedisco was the first author of the Property Tax Cap, which put a lid on out of control tax hikes and has saved taxpayers $ 15.3 billion statewide and residents of the 49th State Senate District $ 344.5 million since its implementation.

Adams» testimony also questioned the proposed elimination of the current $ 1 million cap on corporate franchise tax liability based on taxpayer's in - state capital and plans to establish a «financial nexus» for out - of - state credit card operations where no physical in - state nexus exists.

«It's interesting that the Governor would be willing to raise money for the same cabal of Democrat Senators who in 2009 raised taxes... and are now itching to do away with the property tax cap, go on a massive taxpayer - financed spending spree and roll back all of the economic progress we've made over the last six years,» said Scott Reif, a spokesman for Senate Republicans.

The new federal tax law that caps state and local tax deductions at $ 10,000 sent officials in high - tax states like New Jersey scrambling to blunt the potential impact on taxpayers.

The ad goes on to cite Faso's record of results as a leader, notably his efforts to push for a property tax cap, which his opponent is against, and his role in creating New York's STAR program, which saves taxpayers millions of dollars each year.

So if Moody's thinks capping the SALT deduction could lead to folks insisting on fiscal restraint that is a good thing for taxpayers, not anything bad.

Cuomo is also pushing to expand charitable deductions for taxpayers in New York that could let them recover from the federal cap on deductions — a move that follows the broad outlines being considered by California officials, another high - tax state that is reacting to the SALT cap.

As the mayor spoke, the Senate was passing a bill to impose the cap on the city, a move the Republican majority said would save city taxpayers $ 4.5 billion by 2019.

Gov. Andrew Cuomo put the kibosh on the Senate Democrats» proposed property tax cap circuit breaker, which has also been endorsed by a number of taxpayer advocacy groups.

She also opposed the 2 percent cap on growth in some of the nation's highest property taxes, while also saying taxpayers need relief.

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.

New York and New Jersey's governors signed orders allowing taxpayers to pre-pay local taxes before a $ 10,000 cap on state and local tax deductions goes into effect next year.

«Once hardworking taxpayers learn more about Assemblyman Latimer's disastrous record on taxes, which includes voting against Governor Cuomo's property tax cap and voting for the job - killing MTA payroll tax, we're confident they will choose to send Bob Cohen to the State Senate.»

O'Brien, a Rochester - area Democrat, meanwhile, is creating a ballot line centered around upstate taxpayers in order to highlight his support for the state's cap on property tax increases.

The coming 0.73 percent growth rate for the state's cap on property taxes is good news for taxpayers, but potentially a damaging development for revenue that funds vital services, the New York State Association of Counties said in a statement.

But there is no situation so bad it can not be made worse, and Miliband has proceeded to achieve this by his proposal, if returned to power in 2015, to impose a # 5,000 cap on donations to political parties, with taxpayers stepping in to make up the shortfall.

In high - tax states, officials have been focused on protecting taxpayers from the impact of a new $ 10,000 cap on deductions for paying state and local taxes.

«Professor Teachout supports higher taxes on energy and she rejects New York's property tax cap, which protects taxpayers from runaway spending increases,» said Dain Pascocello, spokesman for the Faso campaign.

Teachout, on the other hand, does not support the property tax cap, which saved taxpayers $ 2.5 billion in 2015 and she advocates for a new tax on energy, which would cost residents on average of $ 1,700 a year.

The 30 - second spot, called «Began,» will air on broadcast, cable and digital market areas throughout the district.Previous ads cite Faso's record of results as an innovative leader, notably his efforts to enact balanced state budgets, push for a property tax cap and his role in creating New York's STAR program, which saves taxpayers millions of dollars each year.

Gov. David Paterson just sent out a statement congratulating «New Jersey's long suffering taxpayers» and praising the collaboration of the Garden State's governor and legislative leaders on landing a property tax cap deal — something that has so far stalled in the Empire State.

RBS share trading resumed now - 73 % owned by taxpayer - market cap was # 35bn on Thursday, now worth # 25bn.

But, Cuomo said, two structural changes to New York's tax code might mitigate the impact of the cap on New York taxpayers.

Taxpayers who give to those funds will get a credit — capped at 85 percent of the donation total — on their state income taxes.

Even with the cap, rolling back state and local deductibility will immediately increase taxes on 129,000 taxpayers in the Western New York counties represented by Collins, or nearly 15 percent of taxpayers.

Property taxpayers already receive a portion of their own money back that they paid in taxes, if their school or local government further holds the line on spending beyond the state's two percent per year property tax cap.

What many predicted would become a harsh referendum on the audacity of Sean Eldridge — a first - time Democratic candidate with a thin résumé and a thick wallet — has instead revealed the depth of bipartisan affection for Mr. Gibson, a decorated veteran of two wars who returns his $ 4,300 - a-month military pension to taxpayers, has capped his service in Congress at eight years, and travels the district in a black ragtop Mustang (a gift from his wife when he returned home from duty in Kosovo).

On Monday, Senate Democrats also proposed a package of ethics reforms, including a bill that would cap legislators» outside income at 15 % of their taxpayer - funded salary.

Amid the Internal Revenue Service's warning that some taxpayers who prepaid their property taxes may still face a cap on deductions, Gov. Andrew Cuomo and Mayor Bill de Blasio have defended the move as the best way to address President Donald Trump's last - minute tax bill and reassured taxpayers.

We urge Congress to set a cap on fossil - fuel production before Copenhagen, phase in a price on carbon at its source and send the proceeds back to the taxpayer.

So, taxpayers of Princeton — knowing that the Board jumped the cap and went to Trenton for a waiver — why aren't you demanding a vote on the school budget, as opposed to relying on the 2 % cap, which apparently isn't a real cap in practice anyway?

In his 2015 - 17 state budget, which currently is being mulled by lawmakers, Walker proposed to eliminate the cap on the number of students who receive taxpayer - funded vouchers to attend private school as long as their families meet income limits.

Lifting income caps on private - school vouchers so taxpayers foot the bill to send middle - and upper - income families» kids to private school.

The GOP tax bill caps the property tax deduction at $ 10,000 and eliminates the sales and income tax deductions that taxpayers can claim on their federal taxes.

Experts expect that other elements of the tax bill — including the near - doubling of the standard deduction and the $ 10,000 cap on property, state and local income taxes — will mean fewer taxpayers itemize.

The Obama Administration proposed a cap of $ 57,500 on loan forgiveness, which the Congressional Budget Office estimates would save taxpayers more than 6.7 billion over 10 years.

Finally, the phase - out / cap on itemized deductions for high - income taxpayers known as the Pease Amendment Limit was repealed in TCJA.

Caps on total itemized deductions could also reduce charitable giving because the caps reduce, and in many cases remove, incentives for high - income taxpayers to gCaps on total itemized deductions could also reduce charitable giving because the caps reduce, and in many cases remove, incentives for high - income taxpayers to gcaps reduce, and in many cases remove, incentives for high - income taxpayers to give.

For example, taxpayers who paid real estate taxes in excess of the cap on their home can no longer deduct the full amount.

Old law: Under prior law, taxpayers could deduct state, local and foreign real estate taxes they paid during the tax year, with no cap on the amount.

Peter Barnes, an entrepreneur and author of books on climate policy, is pushing for a «cap and dividend» alternative in which emitters must buy an ever - shrinking pool of pollution permits, with the revenue directly given through regular checks to taxpayers.