Online Petition Has Long Islanders Pushing Back On SALT Cap

Piece Published Here

By Jill Ryan                                                                                10/18/18

Suffolk County Executive Steve Bellone has launched an online campaign and petition against the new IRS proposals to enforce a cap on state and local tax deductions at $10,000. The cap was part of the recently passed federal tax plan.

New York Governor Andrew Cuomo countered with state legislation to establish charitable funds that would provide tax credits. But the IRS has proposed new tax regulations that would close that loophole.

“If they persist in pursuing these regulations, which are in fact arbitrary and capricious and wrong, legal action is likely,” said Bellone, who will be going down to Washington in November to testify against the regulations at an IRS public hearing.

“New York already sends billions more to Washington then we get in return, you know, should be the end of the debate. There is absolutely no rationale for Washington to be taking more money.”

He made his comments on WCNY’s “Capital Pressroom.”