Sentences with phrase «federal tax cuts»

He said this year's budget is going to be a challenge because of a $ 4.4 billion deficit and the new federal tax cuts.
-- Spending $ 1.5 trillion on federal tax cuts and squeezing the overall federal discretionary budget while also threatening key programs that the MTA is relying on to fund upgrades and expansions.
The act allows private developers limited access to tax - free bonds to pay for public buildings such as schools, using a provision of the 2001 federal tax cut bill.
A more sensible policy response would be to raise state taxes on the high - income residents who have just been given enormous federal tax cuts.
It does seem likely that some kind of significant federal tax cuts are going to be passed.
Surrounded by union workers, U.S. Senate Minority Leader Chuck Schumer called Trump's infrastructure plan a sham, and urged that recent federal tax cuts for corporations and the richest Americans be rolled back to help pay for long - overdue repairs.
The Governor also identified quite strongly with the suburban voter's laser like focus on property taxes, both in terms of state policy toward property taxes and the reaction to the capping of the deductibility of state and local taxes emanating from the recent federal tax cut bill.
He said that short - term stimulus effects created by federal tax cuts are likely to wear off quickly, resulting in a deceleration in job growth.
To raise revenues, Cuomo proposed requiring extending sales tax collections on online sales, imposing a surcharge on certain health insurers who received a windfall from federal tax cuts, tapping hundreds of millions of dollars in proceeds from lawsuit settlements and raising taxes «e-cigarettes» and taxing opioids (2 cents per milligram prescribed to go to anti-addiction programs).
In April 2014, super-rich taxpayers in Connecticut and elsewhere shielded their income through charitable donations or other means to avoid a tax hit following the expiration of federal tax cuts.
Restructuring state tax systems in a way that takes back some of these high - end federal tax cuts should be a no - brainer for cash - strapped states.
To be clear, the governor will always side with the middle class over the corporations who were given a $ 1 trillion federal tax cut paid for by the elimination of deductions used by many of your readers.
In its financial plan narratives, the DOB suggested high - income earners were delaying some profit - taking and bonus - claiming (including the exercise of stock options) in anticipation of the new Trump administration's plans for a big federal tax cut, effective as soon as 2019.
You might want to change the example: Education in the USA is a state matter, while the question seems to be triggered by the USA federal tax cuts.
Other reforms Hawkins is calling for include a windfall tax on pharmaceutical companies» opioid wealth, a surtax on high - dollar pass - through income from LLCs and other pass - through vehicles, a clawback of the new federal tax cuts if not used to increase workers» pay, home rule for local income taxes, and tax credit «circuit breakers» to protect low - to - moderate income tenants and homeowners from unaffordable rents and property taxes.
The UFT president suggested that the state pay for necessary public investments, such as education, by recapturing some of the funds lost to federal tax cuts for the rich.
The new federal tax cut bill takes away deductions for state and local taxes, a big blow to New Yorkers, and Gov. Andrew Cuomo is proposing more than $ 700 million in cuts to the city in his budget.
«We are asking you to tax upper - income individuals like us, those who have who have benefited the most from the systems in place in New York and from the recent federal tax cuts, and who have the greatest ability to pay more,» they said.
House attributes the rosier U.S. outlook to federal tax cuts, a massive US$ 300 - billion spending package and the possibility of an additional spending or infrastructure bill.
In total, the SALT cap is estimated to cost New Yorkers between $ 9.5 billion and $ 15.3 billion in additional federal taxes, reducing the federal tax cut they would otherwise receive or, in many cases, resulting in a federal tax increase.
While Trump's federal tax cut is causing headaches for some New Yorkers, Cuomo and regulators at the state Public Service Commission are working to ensure that utility customers in the state are able to reap some of the benefits as soon as possible.
Despite being described by Democratic leaders as an «economic missile,» the federal tax cuts are doing precisely what congress predicted they would do: giving middle class people, like our $ 79,500 earning state lawmakers, a financial break.
Governor Cuomo is taking dramatic action to fight the federal tax assault on New York caused by the federal Tax Cuts and Jobs Act of 2017.
As our Senator, Wendy Long will fight to renew the federal tax cuts that Senator Gillibrand has promised to repeal.
«If you want further proof of the harm caused by Kirsten Gillibrand's self - serving priorities, consider the recently passed federal tax cuts,» Farley says in the video.
FPI joined the rally, where ordinary tax payers, elected officials, community organizations and labor unions called for a 0.5 % New York State tax on stock buyback trades, which would mean corporations using their federal tax cuts simply to benefit their shareholders would have to pay a small New York State tax on... (read more)
The payroll change, like others Gov. Andrew Cuomo wrote into the budget, are meant to mitigate the effects of the federal Tax Cuts and Jobs Act of 2017.
«New York State should seek to impose a Stock Buyback Transfer tax when large profitable corporations are using their windfall from the federal tax cuts to buy back stocks rather than create jobs and increase worker pay,» said Jonas Shaende.
Instead of accepting reality, King Cuomo has decided to waste even more of our state tax dollars to steal your federal tax cuts
«There's speculation that high - income taxpayers and employers are anticipating a federal tax cut as soon as this year,» McMahon said.
We need to make our schools and public spaces safer; counter the unfairness of the federal tax cuts; make health care a human right; push for more green jobs; support manufacturing, small businesses and family farms; and tackle the structural funding problems of our public schools.»
Just six months ago, it would have been plausible for wealthy New Yorkers to dream of or even plan on a federal tax cut.
Cuomo in recent months has been outspoken about the federal tax cut plan hurting high - tax blue states like New York and California by severely restricting the federal deductibility of state and local income and property taxes.
While President Donald Trump's federal tax cut is causing headaches for some New Yorkers, Gov. Andrew Cuomo and regulators at the state Public Service Commission are working to ensure that utility customers in the state are able to reap some of the benefits as soon as possible.
All over the country, the collision of decades of expansive social programs, federal tax cuts for the richest, and the aftermath of the global financial slide has produced oceans of budgetary red ink.
Governor Cuomo's «desperate proposal,» conjured in response to new federal tax cuts that eliminate federal deductions for state and local property taxes exceeding $ 10,000 in exchange for other financial benefits, is Governor Cuomo's way of admitting that he won't lower taxes as needed in New York, Senator DeFrancisco said.
There is irony to the fact that many of those speaking the loudest against the federal tax cuts are the same people who, in the past, advocated for higher taxes on the rich.
For example, Apple announced that because of the federal tax cuts it would be investing $ 350 billion in the U.S. over the next five years and hiring an anticipated 20,000 workers.
«There's speculation that high income taxpayers and employers are anticipating a federal tax cut as soon as this year,» McMahon said.
While McMahon believes it should be phased out on schedule, Deutsch believes there should be a higher «recapture» rate for the wealthiest New Yorkers who will see windfalls from the federal tax cut passed by the Republican - led Congress in December.
Plans for federal tax cuts and reforms need to be fleshed out in ways that provide greater benefits for children in families most in need.
Present plans for federal tax cuts and reforms are predicated, in part, on helping families by directly putting more money in their pockets.
This ensures that the stock's earnings growth is not due to one - time events (e.g. a federal tax cut).
The U.S. economy has much going for it on the upside — strong job growth, rising home values, some wage growth and higher consumer confidence, and a federal tax cut that is putting more money in many wallets.
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