Sentences with phrase «new federal tax cut»

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.

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.

Not exact matches

WASHINGTON, Oct 9 - A top Senate Democrat on Tuesday said new tax revenues should go to reducing the federal deficit, not cutting tax rates, dismissing as «obsolete» a Reagan - era model of tax reform.

Powell said individual Fed members will be crafting new projections at the central bank's meeting in March, which would be influenced by federal government's ambitious fiscal policies including tax cuts.

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.

The federal government is not confronted with a short - term fiscal crisis but it is facing a stubborn medium - term structural deficit that will prevent you from balancing the budget by 2015 - 16, without new expenditure cuts and / or tax increases.

Tax cuts always effect assets prices, regulations are estimated to account for up to 35 % of building new construction costs for homes in some locations and though federal deregulation may not impact local regulations as much it does have a multiplier effect on the economy just like a tax cut does and anticipation of an infrastructure plan the scale of this administration's, though it hasn't been passed, would also have an anticipatory effect on leading indicators like stocks and other commodities that raise costs, which we have already seTax cuts always effect assets prices, regulations are estimated to account for up to 35 % of building new construction costs for homes in some locations and though federal deregulation may not impact local regulations as much it does have a multiplier effect on the economy just like a tax cut does and anticipation of an infrastructure plan the scale of this administration's, though it hasn't been passed, would also have an anticipatory effect on leading indicators like stocks and other commodities that raise costs, which we have already setax cut does and anticipation of an infrastructure plan the scale of this administration's, though it hasn't been passed, would also have an anticipatory effect on leading indicators like stocks and other commodities that raise costs, which we have already seen.

The status quo fiscal projection, which assumes no new spending programs and no new tax cuts, is now for the federal books to move into a small surplus in 2019 - 20, and for the federal debt to GDP ratio in 2019 - 20 to be 27 %.

Dr. Lacy Hunt: Here's my attitude: the new federal initiatives, whether tax cuts or infrastructure or otherwise will not provide a boost to the economy if they are funded with increases in debt — that's where we're at.

The disclosures come on the heels of last week's proposals by Republican lawmakers to provide several new tax benefits for multinational companies, including cutting the federal corporate income tax rate to 20 percent from 35 percent.

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.

The final agreement not only burnishes Cuomo's liberal credentials by extending (though not expanding) the millionaire's tax, raising the age of criminal responsibility of New York and addressing the high cost of college tuition for members of the middle class, it also dramatically increases his (already considerable) budget powers, enabling him to single - handedly make spending cuts in the event of widely expected future federal funding reductions.

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.

U.S. Sens. Charles Schumer and Kirsten Gillibrand should expect to get a federal income tax cut worth thousands of dollars next year under the new Republican tax law, which they both fought and voted against, based on their 2017 tax returns.

Following a few years of relative fiscal stability thanks to the economic recovery and bank settlements following the financial collapse, New York is staring down a budget deficit of more than $ 4 billion, an amount that could be grow because of cuts in federal health care spending and the tax overhaul.

Proponents of raising taxes on New York's wealthiest say they have a new impetus to increase the state's revenue — the continued bad news from Washington about deep federal cuts to health care and other areNew York's wealthiest say they have a new impetus to increase the state's revenue — the continued bad news from Washington about deep federal cuts to health care and other arenew impetus to increase the state's revenue — the continued bad news from Washington about deep federal cuts to health care and other areas.

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 20tax assault on New York caused by the federal Tax Cuts and Jobs Act of 20Tax Cuts and Jobs Act of 2017.

WASHINGTON — New York's two Democratic senators, Chuck Schumer and Kirsten Gillibrand, should each expect to get a federal income tax cut worth thousands of dollars next year under the new Republican tax law, which they both fought and voted against, according to projections based on their 2017 tax returNew York's two Democratic senators, Chuck Schumer and Kirsten Gillibrand, should each expect to get a federal income tax cut worth thousands of dollars next year under the new Republican tax law, which they both fought and voted against, according to projections based on their 2017 tax returnew Republican tax law, which they both fought and voted against, according to projections based on their 2017 tax returns.

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.»

«While the federal corporate tax cuts are expected to incentivize businesses to make capital investments and create more jobs, New Yorkers don't see the benefits of the new tax reform,» Ondrich saNew Yorkers don't see the benefits of the new tax reform,» Ondrich sanew tax reform,» Ondrich said.

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)

Citizen Action of NY is coordinating the New York activities of a new national campaign, Americans for Tax Fairness, to bring greater fairness to the federal tax code by ending the Bush tax cuts for the richest 2 percent of AmericaNew York activities of a new national campaign, Americans for Tax Fairness, to bring greater fairness to the federal tax code by ending the Bush tax cuts for the richest 2 percent of Americanew national campaign, Americans for Tax Fairness, to bring greater fairness to the federal tax code by ending the Bush tax cuts for the richest 2 percent of AmericaTax Fairness, to bring greater fairness to the federal tax code by ending the Bush tax cuts for the richest 2 percent of Americatax code by ending the Bush tax cuts for the richest 2 percent of Americatax cuts for the richest 2 percent of Americans.

Faso's Reform Plan to Cut Property Taxes Federal Plan Would Remove Albany's Medicaid Burden on Local Taxpayers Kinderhook, NY — April 5, 2016... Citing New York's outrageous -LSB-...]

ALBANY — The Cuomo administration on Wednesday detailed several proposals that could allow some higher - income, middle - class New Yorkers to avoid paying more federal taxes under the new tax cut law passed in Washington last monNew Yorkers to avoid paying more federal taxes under the new tax cut law passed in Washington last monnew tax cut law passed in Washington last month.

We applaud Governor Paterson's argument that, should New York receive a significant cash infusion from the federal government for Fiscal 2010, the state should use those revenues to cut back on significant proposed tax and fee hikes, rather than restore or increase governmental spending.

After weeks of gloomy warnings regarding an impending federal fiscal cliff, Congress worked at the last minute to avoid the automatic spending cuts and tax hikes that would have taken effect in the new year.

«It is shocking that Grinch Andrew Cuomo is advocating for a shutdown of the federal government because he didn't get his way on denying New York's working families a tax cut of $ 100 or more in their monthly paychecks,» Collins said in a statement.

The governor's plans to cope with federal cuts comes as State Comptroller Tom DiNapoli issued a report finding New Yorkers gave over $ 40 billion more in taxes in 2016 to Washington than they got back in benefits.

Mr. Johnson said he would approach land - use decisions by trying «to get to a place of yes»; that he wanted to take steps to «eradicate hunger in New York City»; and that he would deal with the prospect of tighter budgets — because of the new federal tax law or a potential economic downturn — by guarding funding for «programs and everyday things that affect the most New Yorkers and the poorest New Yorkers, to ensure that they don't get cut.&raqNew York City»; and that he would deal with the prospect of tighter budgets — because of the new federal tax law or a potential economic downturn — by guarding funding for «programs and everyday things that affect the most New Yorkers and the poorest New Yorkers, to ensure that they don't get cut.&raqnew federal tax law or a potential economic downturn — by guarding funding for «programs and everyday things that affect the most New Yorkers and the poorest New Yorkers, to ensure that they don't get cut.&raqNew Yorkers and the poorest New Yorkers, to ensure that they don't get cut.&raqNew Yorkers, to ensure that they don't get cut.»

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.

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.

He says New York faces a «triple threat» of the projected budget gap, weaker personal income tax collections, and cuts to federal programs.

If enacted, the state would deposit the tax revenue in a proposed health care shortfall fund that would offset losses to New York from cuts in federal health care funding to the state.

Instead of ensuring cuts to all New York taxpayers, the federal tax plan will create a scenario in which 3.3 million New Yorkers - the vast majority of whom are middle class - will be double taxed.

«These devastating federal cuts are a dagger in the heart to New York State, attacking needy healthcare patients, stripping away healthcare from children, forcing cuts on stressed hospitals and local governments and ultimately raising taxes on New Yorkers,» Governor Cuomo said.

«They're using those states to finance the tax cut in the other states: New York and California, which already pay more to the federal government than other states.

Instead of ensuring cuts to all New York taxpayers, the federal tax plan will create a scenario in which 3.3 million New Yorkers — the vast majority of whom are middle class — will be double taxed.

The spending measure, which requires legislative approval, also includes $ 1.1 billion in new school spending; $ 2.5 billion for water quality and water and sewer upgrades; expanded child care tax credits; and new powers for Cuomo, a Democrat, to adjust state spending in the face of federal spending cuts.

Cuomo also plans, with several other high - tax states, to sue the federal government, claiming the new law targets Democratic states with higher tax tabs to pay for more cuts in Republican states.

Gov. Andrew Cuomo, under the guise of bracing for the impact of federal cuts to health care spending, proposes a 14 percent tax on New York health insurers in his 2018 - 19 budget.

The governor's plans to cope with federal cuts comes as State Comptroller Tom DiNapoli has issued a report finding New Yorkers gave over $ 40 billion more in taxes in 2016 to Washington than they got back in benefits.

Democrats — including Assembly Speaker Carl Heastie and New York City Mayor Bill de Blasio — say the uncertainty should prompt New York to raise taxes on the rich to protect social programs from federal cuts.

Progressives believe the probability of federal cuts in social service funding to the states makes it more important that New York fills the coming gap, in part, by taxing the wealthiest residents, some of whom are seeing big cuts with the new federal cuts for sole proprietorships and corporatioNew York fills the coming gap, in part, by taxing the wealthiest residents, some of whom are seeing big cuts with the new federal cuts for sole proprietorships and corporationew federal cuts for sole proprietorships and corporations.

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.

Andrew Pallotta, president of the politically powerful New York State United Teachers union, took note of the state's deficit, the potential impact of the federal tax law and possibility for more federal funding cuts.

A plurality of 45 percent says they will be about the same financially as a result of the new tax law — which cuts federal tax rates but curbs deductibility of state and local taxes — while 33 percent say they will be worse off, and only 15 percent say they will be better off financially.

Letter from AAAS CEO Rush Holt to Deputy Attorney General Rod Rosenstein Regarding Fingerprint Reporting Guidelines [March 28, 2018] AAAS Statement on FY 2018 Omnibus Bill Funds for Scientific Research [March 23, 2018] AAAS Statement on FY 2018 Omnibus Funding Bill [March 22, 2018] AAAS CEO Rush Holt Statement on Death of Rep. Louise Slaughter [March 16, 2018] AAAS CEO Urges U.S. President and Congress to Lift Funding Restrictions on Gun Violence Research [March 13, 2018] AAAS Statements on Elections and Paper Ballots [March 9, 2018] AAAS Statement on President's 2019 Budget Plan [February 12, 2018] AAAS Statement on FY 2018 Budget Deal and Continuing Resolution [February 9, 2018] AAAS Statement on President Trump's State of the Union Address [January 30, 2018] AAAS Statement on Continuing Resolution Urges FY 2018 Final Omnibus Bill [January 22, 2018] AAAS Statement on U.S. Government Shutdown [January 20, 2018] Community Statement to OMB on Science and Government [December 19, 2017] AAAS CEO Response to Media Report on Use of «Science - Based» at CDC [December 15, 2017] Letter from AAAS and the American Physical Society to Iranian President Hassan Rouhani Regarding Scientist Ahmadreza Djalali [December 15, 2017] Multisociety Letter Conference Graduate Student Tax Provisions [December 7, 2017] Multisociety Letter Presses Senate to Preserve Higher Education Tax Benefits [November 29, 2017] AAAS Multisociety Letter on Tax Reform [November 15, 2017] AAAS Letter to U.S. House of Representatives Ways and Means Committee on Tax Cuts and Jobs Act (H.R. 1)[November 7, 2017] AAAS Statement on Release of National Climate Assessment Report [November 3, 2017] AAAS Statement on EPA Science Adviser Boards [October 31, 2017] AAAS Statement on EPA Restricting Scientist Communication of Research Results [October 25, 2017] Statement of the Board of Directors of the American Association for the Advancement of Science on Scientific Freedom and Responsibility [October 18, 2017] Scientific Societies» Letter on President Trump's Visa and Immigration Proclamation [October 17, 2017] AAAS Statement on U.S. Withdrawal from UNESCO [October 12, 2017] AAAS Statement on White House Proclamation on Immigration and Visas [September 25, 2017] AAAS Statement from CEO Rush Holt on ARPA - E Reauthorization Act [September 8, 2017] AAAS Speaks Out Against Trump Administration Halt of Young Immigrant Program [September 6, 2017] AAAS Statement on Trump Administration Disbanding National Climate Assessment Advisory Committee [August 22, 2017] AAAS CEO Rush Holt Issues Statement On Death of Former Rep. Vern Ehlers [August 17, 2017] AAAS CEO Rush Holt and 15 Other Science Society Leaders Request Climate Science Meeting with EPA Administrator Scott Pruitt [July 31, 2017] AAAS Encourages Congressional Appropriators to Invest in Research and Innovation [July 25, 2017] AAAS CEO Urges Secretary of State to Fill Post of Science and Technology Adviser [July 13, 2017] AAAS and ESA Urge Trump Administration to Protect Monuments [July 7, 2017] AAAS Statement on House Appropriations Bill for the Department of Energy [June 28, 2017] Scientific Organizations Statement on Science and Government [June 27, 2017] AAAS Statement on White House Executive Order on Cuba Relations [June 16, 2017] AAAS Statement on Paris Agreement on Climate Change [June 1, 2017] AAAS Statement from CEO Rush Holt on Fiscal Year 2018 Budget Proposal [May 23, 2017] AAAS thanks the Congress for prioritizing research and development funding in the FY 2017 omnibus appropriations [May 9, 2017] AAAS Statement on Dismissal of Scientists on EPA Scientific Advisory Board [May 8, 2017] AAAS CEO Rush Holt Statement on FY 2017 Appropriations [May 1, 2017] AAAS CEO Statement on Executive Order on Climate Change [March 28, 2017] AAAS leads an intersociety letter on the HONEST Act [March 28, 2017] President's Budget Plan Would Cripple Science and Technology, AAAS Says [March 16, 2017] AAAS Responds to New Immigration Executive Order [March 6, 2017] AAAS CEO Responds to Trump Immigration and Visa Order [January 28, 2017] AAAS CEO Rush Holt Statement on Federal Scientists and Public Communication [January 24, 2017] AAAS thanks leaders of the American Innovation and Competitiveness Act [December 21, 2016] AAAS CEO Rush Holt raises concern over President - Elect Donald Trump's EPA Director Selection [December 15, 2016] AAAS CEO Rush Holt Statement Following the House Passage of 21st Century Cures Act [December 2, 2016] Letter from U.S. scientific, engineering, and higher education community leaders to President - elect Trump's transition team [November 23, 2016] Letter from AAAS CEO Rush Holt to Senate Leaders and Letter to House Leaders to pass a FY 2017 Omnibus Spending Bill [November 15, 2016] AAAS reaffirms the reality of human - caused climate change [June 28, 2016]

The income distribution of any federal income tax cut or refund is an inherently political matter, and the outcome of current efforts in Washington to pass new tax legislation is uncertain.

Education spending has still yet to recover from the Great Recession in many states.11 Because of state constitution balanced - budget provisions, when faced with significant federal funding cuts, states are forced to either further cut education programs or raise taxes.12 The idea of further raising taxes to backfill Trump's education funding cuts simply is not practical in states such as Maryland, 13 Illinois, 14 and New Jersey, 15 which are struggling to fund their current responsibilities.