Westchester Congressman Mondaire Jones, who represents northern Westchester and Rockland County in the 17th District, is an original co-sponsor of the SALT Deductibility Act, which would remove cap on State and Local Tax Deduction instituted by Donald Trump and the republican congress in 2017 as part of a larger tax cut plan.
The State and Local Tax Deduction limits the amount of property taxes and state income taxes that Westchester residents and homeowners can deduct on their federal income taxes to $10,000 total. Congressman Jones in introduced the bill with Long Island Congressman Tom Suozzi and Senate Majority Leader Chuck Schumer.
Residents of New York’s 17th Congressional District pay the highest property taxes of any Congressional District in the country. The average property tax bill in NY-17 is $11,389. 45% of individuals (roughly 330,000 people) in NY-17 use the SALT deduction. The average deduction taken in NY-17 prior to the cap was $26,243.
“Donald Trump cut taxes for billionaires and big corporations and paid for it on the backs of hardworking families in Westchester and Rockland Counties, where we pay the highest property taxes in the entire nation,” said Rep. Jones. “That must change. Restoring the SALT deduction is a necessary first step to creating an equitable tax system – one where we put money back in the pockets of working people.”
The SALT Deductibility Act would remove the cap on the SALT deduction instituted in 2017 as part of Donald Trump’s Tax Cuts and Jobs Act. It would allow New Yorkers to fully deduct their state and local taxes from their federal taxes.
Westchester County homeowners pay the highest propert taxes in the country, and Rockland homeowners pay the 2nd highest. “When it comes to SALT, if you think Westchester and Rockland families needed and deserved this money before the coronavirus took hold, the stakes are even higher now because the cap is costing this community tens-of-thousands of dollars they could be using amid the crisis,” said U.S. Senate Majority Leader Charles Schumer.
“That is why I am proud to work with Congressman Jones to restore our full SALT deduction in this Congress. Double taxing hardworking homeowners is plainly unfair; We need to bring our federal dollars back home to the to cushion the blow this virus—and this harmful SALT cap—has dealt so many homeowners and families locally.”
“I am proud to join my colleagues to introduce legislation to repeal the cap on the State and Local Tax deduction, a cynical policy passed by Republicans as a way to repay wealthy donors and lobbyists with big corporate tax cuts,” said U.S. Senator Kirsten Gillibrand.
“New York needs the full SALT deduction restored to offer hard working middle class families tax relief,” said NYS Senate Majority Leader Andrea Stewart-Cousins. “Savings from deductions could mean the difference between having enough for food or medicine during this pandemic. I have called on Congressional partners and supported restoring the full SALT Deduction, and I applaud Congressman Mondaire Jones and U.S. Senate Majority Leader Chuck Schumer for taking up the bill.”
“I want to thank US Congressman Mondaire Jones for his work, in conjunction with US Senator Chuck Schumer, to restore the State and Local Tax or ‘SALT’ deduction,” said Westchester County Executive George Latimer. “This federal tax law is not only double taxation, but it also unfairly targets communities like Westchester County – and every homeowner in this County is a victim. In Westchester, where the average home is valued at $691,392.00, our homes are our greatest asset and this cap is a hit to our wallet.”
“I urge the federal administration to reinstate the SALT deduction in full,” said State Senator Shelley Mayer. “The move to cap the SALT deduction, a longstanding principle of tax law, was politically motivated and unconscionable. Since the SALT deduction was capped in 2017, families and homeowners in my district have been suffering under an added financial burden of double taxation, penalizing them for crucial state and local investments in essential services and public schools.”
“I’d like to thank our new Congressman, Mondaire Jones, for making restoring the SALT exemption an immediate priority,” said White Plains Mayor Tom Roach. “This issue must be addressed by Congress this year to restore fairness to the system. Representative Jones understands this and understands that our taxpayers depend upon this benefit. “
