City of Binghamton, New York

Mayor To D.C. Leaders: Don't Eliminate Local Tax Deduction

10/11/2017

BINGHAMTON, N.Y.) — Mayor Richard C. David today called upon federal officials to oppose any tax reform legislation that eliminates the federal income tax deduction for state and local taxes.

Mayor David, a member of the New York Conference of Mayors Executive Committee, joins a coalition of New York State mayors who have come out against the measure in President Trump’s tax reform plan. 

“Binghamton homeowners would be hit hard if this deduction were eliminated,” said Mayor David. “It’s not just a critical income tax deduction, but an important incentive for homeownership. If eliminated, home sales would decline and our tax base would continue to erode. Preserving this tax deduction is important to Binghamton’s families and neighborhoods.”

The state and local tax deduction, or “SALT” deduction, allows taxpayers to deduct property, income and other state and local taxes from their federal income taxes.

In Broome County, the average SALT income tax deduction is $2,610, according to data from The Tax Foundation.

Mayor David encouraged residents to call or write their federal representatives to express opposition to eliminating the SALT deduction.

•           Senator Chuck Schumer: (202) 224-6542

•           Senator Kirsten Gillibrand: (202) 224-4451

•           Congresswoman Claudia Tenney: (202) 225-3665

 

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