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<\/a>(May 13, 2013) State Senator Joseph A. Griffo (Rome) \u00a0launched an effort for residents to sign\u00a0his new on-line\u00a0petition urging the rejection of\u00a0Federal budget proposals that would cost New York taxpayers billions of dollars\u00a0annually.\u00a0The petition to oppose this \u201cDouble-Tax Plan\u201d can be found at\u00a0www.griffo.nysenate.gov<\/a>.<\/p>\n\u201cFrom\u00a0Obamacare\u00a0taxes to the new Federal payroll tax hike, New York taxpayers keep getting hammered by policies being enacted in Washington D.C.,\u201d\u00a0Senator\u00a0Griffo said. \u00a0\u201cAnd now\u00a0— adding\u00a0insult to injury — some in Congress and the Administration are threatening to make matters worse\u00a0by increasing taxes on New Yorkers by $4,500.<\/p>\n
\u201cNew York taxpayers are not an\u00a0A.T.M.\u00a0machine for the Federal government,\u00a0and I urge all New Yorkers to make their voice heard on this\u00a0important\u00a0issue.\u00a0By working together, we can send a loud and clear message to Washington that New Yorkers are not going to tolerate this misguided\u00a0plan.\u201d<\/p>\n
For decades, there has been a major imbalance between what New York sends to Washington D.C. each year, and what our State gets in return from our Federal government. \u00a0New Federal budget proposals would exacerbate this imbalance by ending a longstanding policy of allowing taxpayers to deduct their state and local tax liability, including property taxes, from their federal taxes.<\/p>\n
Senator Griffo noted that the Senate Republican Conference recently joined with Governor Cuomo and several members of New York\u2019s Congressional delegation in opposing this \u201cdouble-taxation\u201d measure.\u00a0\u00a0Estimates show that the measure would result in a nearly $15 billion tax increase for New York families — an average increase of more than $4,500 per taxpayer. The average Federal tax bill for affected taxpayers would increase 30 percent.<\/p>\n
\u201cFor the past three years, the Governor and Legislature have kept New York moving in the right fiscal direction by passing three consecutive on-time budgets,\u201d Griffo added. \u201cState spending growth has been below two percent, which is consistent with the local spending cap that applies to school districts and local governments. This year\u2019s budget reduced the State tax burden on small businesses and it also renewed the middle class tax cuts enacted in 2011, keeping those tax rates at the lowest levels in 60 years. The proposed federal repeal of local tax deductions would negatively affect taxpayers in every area of New York.\u201d<\/p>\n
The Senator also pointed out that the Mohawk Valley and North Country would be hit especially hard by the misguided proposals, with more than 66,803 taxpayers being saddled with an average new tax increase of\u00a0$2,350.<\/p>\n
The Federal government has already enacted a series of recent initiatives that have increased the tax burden on New Yorkers by a staggering $151 billion \u2013 or $15 billion annually.\u00a0\u00a0For example:<\/p>\n
Obamacare alone includes tax increases that will cost New Yorkers $21 billion over the next 10 years.<\/p>\n
Obamacare will also hit New Yorkers with $65 billion in increased Medicaid costs.<\/p>\n
The new Federal payroll tax increase will also cost New Yorkers $65 billion.<\/p>\n
The total impacts statewide — and regionally \u2013 from the new \u201cdouble-taxation\u201d plan are outlined in the following chart:<\/p>\n
Regional Impact of Proposed Repeal of State and Local Taxes Paid Deduction<\/p>\n