Sentences with phrase «new federal tax bill»

The new federal tax bill awaiting President Donald Trump's signature spares some concerns for cities and historic preservation groups, but it takes away a positive tool for governments in refinancing debt and removes tax benefits from commuters.

Deputy County Executive Bill Fisher says this is a good year to start the program, because of the implications of the new federal tax bill, which doesn't allow taxpayers to deduct as much state and local taxes on their federal income taxes.

They must work within the confines of a new federal tax bill that makes it harder to raise taxes Long Islanders no longer can deduct, and which might very well stymie their ability to borrow for infrastructure.

Not exact matches

Although President Donald Trump signed the Republican tax bill into law at the end of December, new federal tax brackets will only affect income earned starting January 1, 2018.

According to a new report from the Joint Committee on Taxation, the House GOP tax reform bill — the Tax Cuts and Jobs Act (TCJA)-- would increase the federal deficit by $ 1.487 trillion over the 10 years after it is implementtax reform bill — the Tax Cuts and Jobs Act (TCJA)-- would increase the federal deficit by $ 1.487 trillion over the 10 years after it is implementTax Cuts and Jobs Act (TCJA)-- would increase the federal deficit by $ 1.487 trillion over the 10 years after it is implemented.

A new bill would overturn a federal requirement that airlines include all taxes in first mention of fares in ads, USA Today reports.

The Republican bill added a new $ 10,000 maximum for all state and local tax deductions, effectively raising taxes on wealthy people in those states and reducing a key federal subsidy that makes it easier for states to charge high taxes on rich residents.

«Today, the New York State Senate acted on an important bill sponsored by Senator Felder that will protect hardworking New Yorkers from $ 1.5 billion in new and higher taxes, and prevent the state from receiving a windfall from recently enacted federal tax changes,» Senate Majority Leader John Flanagan saNew York State Senate acted on an important bill sponsored by Senator Felder that will protect hardworking New Yorkers from $ 1.5 billion in new and higher taxes, and prevent the state from receiving a windfall from recently enacted federal tax changes,» Senate Majority Leader John Flanagan saNew Yorkers from $ 1.5 billion in new and higher taxes, and prevent the state from receiving a windfall from recently enacted federal tax changes,» Senate Majority Leader John Flanagan sanew and higher taxes, and prevent the state from receiving a windfall from recently enacted federal tax changes,» Senate Majority Leader John Flanagan said.

As residents in high - tax states brace for bigger tax bills under the recently passed federal tax overhaul, a New Jersey congressman is pushing local governments to adopt a strategy that could save homeowners thousands of dollars.

State Attorney General Eric Schneiderman wants convicted «Pharma Bro» Martin Shkreli to pay his state tax bill before he starts paying back his $ 7.3 million federal tab, according to new Brooklyn federal court documents.

The two - year budget deal reached in Washington on Friday ensures no draconian cuts in federal aid to the state and city, undercuts arguments to raise some local taxes and portends problems for Cuomo as he exaggerates the impact of Congress's tax bill on New Yorkers.

Heastie said earlier this week in Albany that it would be crazy to go forward with the millionaires tax because that would add an incentive for the wealthy to flee the state since the the new tax bill would slam the rich by limiting the federal deduction for state and local income taxes.

Reinstating this tax on buybacks would allow Governor Cuomo and the State Legislature to tax some of the windfall profits companies are making off the tax bill and protect New Yorkers from devastating federal cuts to health care and education.»

Cuomo on Tuesday held a ceremonial bill signing on an optional payroll tax and new charitable funds, both of which are designed as workarounds to the federal SALT limits.

While Mayor Bill de Blasio was being sworn in by progressive icon Vermont Sen. Bernie Sanders for a second term, and promising a «progressive era» for New York City, Cuomo was back to a theme he's been on since the previous year: The federal government's tax legislation that caps state and local deductions at $ 10,000.

The State Senate last week, meanwhile, sought to cushion the blow of the federal tax law with a bill that reconciles the state code with the changes in Washington — a change that saves New York taxpayers $ 1.5 billion.

That deduction had been popular in high - tax, Democratic states like New York, Connecticut and New Jersey, where many homeowners now face big increases in their federal tax bill.

Faso said the bill's removal of the federal deduction for state income taxes and the limit on deductions for local property taxes will affect New York families more severely than those in other states.

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.

If budgets are statements of values, Gov. Andrew M. Cuomo clearly values the fight he is waging against a federal tax bill he views as both onerous and directed at states like New York.

Groups opposing the federal tax overhaul plan held a demonstration Friday at the State Capitol, chanting «kill the bill,» and saying the measure is bad for New York and the nation.

Cuomo aides have said since 2010 that he shares household expenses with Lee, including the property tax bill — something the governor noted during a speech last month about the new federal tax law.

[The new charge, they said, would actually be listed on county property tax bills as the «Faso - Collins federal tax» — named after New York GOP Reps. John Faso, of Columbia County, and Chris Collins, of Erie County, whose plan for the cost shifts were included in both the Senate and House versions of federal health care reform billnew charge, they said, would actually be listed on county property tax bills as the «Faso - Collins federal tax» — named after New York GOP Reps. John Faso, of Columbia County, and Chris Collins, of Erie County, whose plan for the cost shifts were included in both the Senate and House versions of federal health care reform billNew York GOP Reps. John Faso, of Columbia County, and Chris Collins, of Erie County, whose plan for the cost shifts were included in both the Senate and House versions of federal health care reform bills.]

Some of Trump's New York friends and colleagues are seeking changes to the federal tax reform bill, as are some of the Republican Party's most generous donors.

«Wall Street Harry Wilson is in favor of preserving the federal tax loophole that lets hedge fund managers pay less on their taxes than the rest of the state, wants to turn over the pension fund to the same Wall Street bankers that almost brought our economy to its knees, is against President Obama's Wall Street reform bill AND wants to enforce a $ 2,500 tax hike on households outside of New York City in his first year if he was elected.»

A Western New York Congressman is throwing his support behind a bill that seeks to fill jobs with trained apprentices by offering federal tax credits to those who do the hiring.

ALBANY — The state Senate Tuesday passed a bill seeking to avoid a possible $ 1.5 billion hike in state taxes resulting from the new federal tax act.

We need see emerging details in all parts of this budget, including tax policy as we deal with the effect the federal tax bill will have on communities all across New York.

FAIR LAWN, N.J. — As residents in high - tax states brace for bigger tax bills under the recently passed federal tax overhaul, a New Jersey congressman is pushing local governments to adopt a strategy that could save homeowners thousands of dollars.

«We know they're facing a $ 4 billion budget deficit in addition to the issues associated with the impact to New York by the federal tax reform bill,» said Poloncarz.

Passage of the bill would revise the federal income tax system by: lowering individual and corporate tax rates; consolidating the current seven tax income rates into four rates; eliminating the deduction for state and local income taxes; limiting certain deductions for property taxes and home mortgages; and creating a new system of taxing U.S. corporations with foreign subsidiaries.

Governor Andrew Cuomo, who's vowed to lead a campaign against New York'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.

Tax Overhaul — Vote Passed (227 - 205, 2 Not Voting) Passage of the bill would revise the federal income tax system by: lowering individual and corporate tax rates; consolidating the current seven tax income rates into four rates; eliminating the deduction for state and local income taxes; limiting certain deductions for property taxes and home mortgages; and creating a new system of taxing U.S. corporations with foreign subsidiariTax Overhaul — Vote Passed (227 - 205, 2 Not Voting) Passage of the bill would revise the federal income tax system by: lowering individual and corporate tax rates; consolidating the current seven tax income rates into four rates; eliminating the deduction for state and local income taxes; limiting certain deductions for property taxes and home mortgages; and creating a new system of taxing U.S. corporations with foreign subsidiaritax system by: lowering individual and corporate tax rates; consolidating the current seven tax income rates into four rates; eliminating the deduction for state and local income taxes; limiting certain deductions for property taxes and home mortgages; and creating a new system of taxing U.S. corporations with foreign subsidiaritax rates; consolidating the current seven tax income rates into four rates; eliminating the deduction for state and local income taxes; limiting certain deductions for property taxes and home mortgages; and creating a new system of taxing U.S. corporations with foreign subsidiaritax income rates into four rates; eliminating the deduction for state and local income taxes; limiting certain deductions for property taxes and home mortgages; and creating a new system of taxing U.S. corporations with foreign subsidiaries.

In 2019 residents of New York would see their share of total federal personal income taxes paid climb to 9.8 percent under the final GOP - Trump tax bill.

ALBANY — In again criticizing the emerging federal tax bill, Gov. Cuomo on Wednesday defended New York's right to have higher taxes.

• So could the many other bills that need to be passed by tomorrow, including but not limited to: New York City's adjusted sales tax, which is needed to balance the city budget; a bill to renew federal support for special education; and a bill to allow the city to continue to sell bonds to raise money.

Daniel Dromm, a Queens city councilman and the head of the council's Finance Committee, and New York City Independent Budget Office Director Ronnie Lowenstein, join «In Focus» Host Cheryl Wills to dig a little deeper into Mayor Bill de Blasio's budget plan and the programs that might be impacted by the federal tax bill and the possible loss of millions of dollars in state reveBill de Blasio's budget plan and the programs that might be impacted by the federal tax bill and the possible loss of millions of dollars in state revebill and the possible loss of millions of dollars in state revenue.

New York state lawmakers are pushing Mayor Bill de Blasio to move faster on a promise to take on a property - tax overhaul, saying many residents are already being financially hurt by changes to the federal tax code.

In a move that could cause major tension in the House, the Senate bill also would prohibit Americans from deducting certain state and local taxes from their federal bills, a change that could raise taxes overall for Americans in high - tax states such as New York, New Jersey, California, Oregon and Illinois.

New York (CNNMoney.com)- Congressional budget scorekeepers said that a grab - bag bill of spending and tax measures to be taken up this week would increase federal deficits by $ 134 billion over a decade.

Rep. Claudia Tenney (R - Oneida County), said «From day one, I have fought against the elimination of the federal deduction for state and local taxes (SALT), and will work to ensure the deduction is included in the final bill... The real question is: When will Gov. Cuomo stop wasting hard - earned tax payer money on corporate welfare and political self - promotion schemes and finally give New Yorkers the relief they desperately need?»

The state Senate on Wednesday passed a bill to provide the federal court clerks in New York with the names of those individuals, along with the names of anyone who files a state income tax return.

Albany County Executive Dan McCoy says 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.

The bill would revise the federal income tax system by lowering the corporate tax rate from 35 percent to 21 percent; lowering individual tax rates through 2025; limiting state and local deductions to $ 10,000 through 2025; decreasing the limit on deductible mortgage debt through 2025; and creating a new system of taxing U.S. corporations with foreign subsidiaries.

Tax Overhaul — Motion to Proceed — Vote Agreed to (52 - 48) McConnell, R - Ky., motion to proceed to the bill that would revise the federal income tax system by: lowering individual and corporate tax rates; consolidating the current seven tax income rates into four rates; eliminating the deduction for state and local income taxes; limiting certain deductions for property taxes and home mortgages; and creating a new system of taxing U.S. corporations with foreign subsidiariTax Overhaul — Motion to Proceed — Vote Agreed to (52 - 48) McConnell, R - Ky., motion to proceed to the bill that would revise the federal income tax system by: lowering individual and corporate tax rates; consolidating the current seven tax income rates into four rates; eliminating the deduction for state and local income taxes; limiting certain deductions for property taxes and home mortgages; and creating a new system of taxing U.S. corporations with foreign subsidiaritax system by: lowering individual and corporate tax rates; consolidating the current seven tax income rates into four rates; eliminating the deduction for state and local income taxes; limiting certain deductions for property taxes and home mortgages; and creating a new system of taxing U.S. corporations with foreign subsidiaritax rates; consolidating the current seven tax income rates into four rates; eliminating the deduction for state and local income taxes; limiting certain deductions for property taxes and home mortgages; and creating a new system of taxing U.S. corporations with foreign subsidiaritax income rates into four rates; eliminating the deduction for state and local income taxes; limiting certain deductions for property taxes and home mortgages; and creating a new system of taxing U.S. corporations with foreign subsidiaries.

«The federal government picked the wrong New Yorker to screw with when they sent Edie that tax bill!»

Fewer deductions means a higher federal tax bill — especially for Long Island, Westchester County and New York City residents, who have some of the nation's highest property taxes.

After a federal magistrate judge dismissed a similar lawsuit in 1999, finding the state was immune from the legal action, the western New York tribe in 2007 sent a $ 2 million bill for back tolls during a dispute with the state over cigarette taxes.

An affluent suburb of New York City could be among the hardest hit under the proposed federal tax bill.

Legislative Column from Assembly Minority Leader Brian M. Kolb (R - Canandaigua) This week, Gov. Cuomo devoted a great deal of his State of the State address explaining how the newly - passed federal tax reform bill will hurt New York.