As public funds are freed up by voucher - using students, the net savings could be distributed among state taxpayers and
property taxpayers across the state through these formulas.
Trump's plan to take away the federal deduction for state and local taxes will hit hard in New York, but the pain will be spread unevenly
among taxpayers across the state, tax experts say.
And
as taxpayers across the state get even more used to the protection provided by the cap, it will become a taller political order for public employee unions and local governments to riddle it with loopholes, as they've been trying to do.
WASHINGTON — President Donald Trump's plan to take away the federal deduction for state and local taxes will hit hard in New York, but the pain will be spread unevenly
among taxpayers across the state, tax experts say.
This is great news for parents, teachers, and
taxpayers across the state,» Schumer said.
Paterson called the vote the «first significant step toward easing the burden on property
taxpayers across the state,» adding:
«The tax cap has successfully broken the cycle of skyrocketing property tax increases, providing real relief to property
taxpayers across the state and reversing New York's perception as the high tax capital of the world,» Cuomo said in a statement.
The other third accrues to local property
taxpayers across the state.