Sentences with phrase «said eliminating the tax»

Later in the day, during an interview with NY1, Cuomo said eliminating the tax deduction would result in double taxation for New Yorkers and was akin to «a form of modern day treason.»

Not exact matches

Some experts say a plan to eliminate the alternative minimum tax may be worse than just keeping it.

Ottawa has previously said it eliminated the education and textbook tax credits because they were not targeted based on income.

He says that combining retirements, dissatisfaction with the tax bill — which eliminates significant local and state tax deductions that impact Californians — and general frustration with the president, at least seven of those Congress members could be gone.

«Eliminating or nullifying the tax incentives for homeownership puts home values and middle - class homeowners at risk, and from a cursory examination, this legislation appears to do just that,» William E. Brown, president of the National Association of Realtors (NAR), said in a statement.

«At a time when young adults and families are struggling more than ever to pay for higher education, they simply can't afford to have more financial support eliminated by this tax plan,» said Reid Setzer, Young Invincibles» director of government affairs.

But taxing imputed rent fully eliminates the tax - favored status for housing, Sinai said.

«This combination of raising the standard deduction and eliminating itemized deductions will make tax preparation easier, but I'm not sure it will be a savings for higher income people,» said Tim Steffen, director of advanced planning at Robert W. Baird & Co. in Milwaukee.

When Trump announced his tax reform plan, he said, «We're reducing taxes, but believe me, there will be people in the very upper echelon that won't be thrilled with this,» suggesting that through eliminating deductions that the wealthy often use, the rich would pay more.

The comptroller's annual report said bonuses for 2017 likely got a boost from tax law changes that will eliminate the corporate deduction for performance - based pay starting in 2018.

Finance Minister Carole James says only five per cent of businesses will be paying the full tax rate and those covering the existing health premiums for their employees will see savings as the fees are cut in half and then eliminated.

That would eliminate the corporate tax, which in turn could create millions of new jobs, Johnson says.

The plan contains up to $ 6 trillion in tax cuts, according to independent analysts, which Trump and top Republicans say they would offset by eliminating loopholes, deductions and tax breaks and boosting annual economic growth.

House Ways and Means Committee Chairman Kevin Brady said lawmakers are determined to eliminate the alternative minimum taxes (AMTs) on corporations and individuals that the Senate bill retained.

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.

While eliminating state and local tax deductions will «hurt in some places,» it's something that has to be done, Sen. David Perdue, R - Ga., said.

But eliminating that deduction is already opposed by Republican lawmakers from high - tax states such as New York and California, who say it helps their state governments pay for social programs, including public education.

I'd like to eliminate FICA taxes in the next recession as a stimulus, but I doubt that happens cuz Dems will come in and say «morally wrong» cuz «equality» even though FICA hits the middle class the hardest, but okay.

The Tax Cuts and Jobs Act eliminated the alimony tax deduction, which analysts say could prompt a spate of 2018 divorce filings, especially among high earneTax Cuts and Jobs Act eliminated the alimony tax deduction, which analysts say could prompt a spate of 2018 divorce filings, especially among high earnetax deduction, which analysts say could prompt a spate of 2018 divorce filings, especially among high earners.

«Eliminating the medical expense deduction amounts to a health tax on millions of Americans with high medical costs — especially middle income seniors,» the group said in a statement.

Since the U.K. eliminated its tax on income earned outside the country several years ago, it's become increasingly popular for so - called corporate inversions, a controversial practice in which a foreign company buys a U.K. company, primarily to lower its tax bill, says Andrew Needham, a tax partner at law firm Cravath, Swaine & Moore, which specializes in private equity and hedge funds.

Republicans have said that among other things, they want to simplify individual income tax brackets, raise the standard deduction, reduce corporate tax rates and eliminate some popular itemized deductions, like the state and local tax break.

Sen. Susan Collins (R - Maine), a key swing vote, has said she does not think the estate tax should be eliminated.

«We warned that Christy Clark's outlandish political promises to eradicate the provincial debt and the sales tax essentially eliminated her government's bargaining position with LNG proponents, and we are seeing that in spades in the tax regime the B.C. Liberals introduced,» said Ralston.

«Eliminating or significantly modifying this deduction will lead to higher tax burdens for tens of millions of middle - class taxpayers of every political affiliation, an outcome contrary to the stated goal of providing meaningful relief to taxpayers,» said the letter co-signed by outgoing NCSL President Deb Peters, of South Dakota.

The report says that if these billionaires were taxed 4 %, it would eliminate all poverty and health problems in the entire world.

You eliminate the mandate by saying there can be no such mandate and you call the penalty that the law calls a penalty a tax because a tax in the absence of a mandate would be okay, and since there is no longer a mandate, it is possible to reimagine the penalty as a tax and therefore the new law without the mandate and the penalty, but with an optional tax, is constitutional even though that is not the law that Congress actually passed.

You say government needs to stay out of religion — I agree, but that should include eliminating unique benefits like tax breaks, etc..

The newly imposed 25 percent tax actually was established in 1994 to generate revenue to repair the Park District harbor system, but boaters protested and the improvements were made by privatizing the work, thus eliminating the need for the surtax, they said.

«We weren't planning on increases whether we have the revenue or not, and we should use this revenue to eliminate any taxes that the governor has presented to us,» Tedisco said.

Republican Senate Majority Leader John Flanagan in a statement to Capital Tonight said he has «grave concern» over the federal proposal to eliminate state and local tax deductions as part of a broader effort to cut taxes.

De Blasio said he's not worried yet about Trump's plan to eliminate state and local tax exemptions on federal filing, referring to the the proposed national reform package as a «pipe dream.»

«It's important to remember that any final tax reform plan will be the subject of negotiation and compromise between the President and both houses of Congress, but I have grave concern about a provision eliminating the state and local tax deductions because it would harm the hardworking, overburdened taxpayers who live here,» Flanagan said.

Cuomo said that businesses in his Start - Up NY tax - break program should continue reporting to the state on how many jobs they create and how much money they invest in their operations, despite the requirement being eliminated by the budget he recently signed into law.

Brynien says Cuomo and lawmakers should instead be eliminating what he says is «high priced» outsourcing of government work to private consultants and contractors, and closing corporate tax loopholes.

Bellone, during a radio appearance on «Cats Roundtable» with John Catsimatidis, said he was appealing to Trump «to really step up and make sure that nothing becomes law that modifies or eliminates the deduction for state and local taxes.»

The state's top economic development official says a plan in Congress to eliminate the historic tax credit program would harm efforts to revitalize cities in New York.

«The problem Republicans have on Long Island is that massive property tax hikes are coming thanks to the tax plan that passed in Washington, eliminating tens of thousands of dollars in deductions,» he said.

The governor said if the Obamacare - related taxes on the wealthy are also eliminated, then the state's middle class might have to see their taxes go up by 26 percent.

«Now, what we're using is in their new tax bill, they eliminated the deductibility for individuals, but not for businesses,» he said.

John Flanagan, the leader of the state Senate Republicans, said in a statement that while he supports the idea of tax cuts, he has «grave concerns» about eliminating the state and local tax deductions.

She said the cost of eliminating the estate tax alone is equal to the entire price of the Child Health Plus program, which provides health insurance for poor children.

The candidates fielded 14 questions, ranging from their stances on national issues — all asserted their belief in climate change and said they were against eliminating federal tax deductions for local property taxes — to how they'd help the homeless.

«But if every New Yorker, every Democrat and Republican, said they are not voting for any tax reform bill that eliminates state and local deductibility or cuts it dramatically, they'd have to take it out of the bill.

She says the cost of eliminating the estate tax alone is equal to the entire price of the Child Health Plus program, which provides health insurance for poor children.

Schumer, who is Senate Democratic Leader, says while the tax plan has changed from the original version, 71 % of the deductions that now benefit state residents would be eliminated.

Flanagan did reiterate his opposition to tax reform bills being considered that many say will hurt high - tax states like New York by eliminating the deductibility of state and local taxes.

«The Medicaid changes being proposed in Washington would cut taxes for wealthy special interests while devastating New York State's finances and all but eliminating health care for the most vulnerable New Yorkers,» said Hochul.

«There is always the risk that eliminating or significantly curtailing the 421 - a property tax exemption would reduce the amount that developers of rental housing would be willing to pay for land,» Mark Willis, the executive director of New York University's Furman Center, said in an email.

«Any Senate Democrat candidates who run on Long Island in 2016 will have to answer for what the Democrats did in 2009 - 10 when they ran the Senate and declared war on Long Island — enacting the job - killing MTA payroll tax, eliminating the STAR rebate checks and shifting school aid to NYC at Long island's expense,» an GOP insider said.