LI lawmakers say Senate GOP tax bill is bad news for NY

Posted: Updated:
WOODBURY -

The early morning passage of the Republican Senate tax plan could potentially have an impact on Long Islanders who believe their property taxes are already too high. 

Under the plan, the property tax deduction that many Long Islanders count on would be capped at $10,000. 

Setauket resident Mike Rizzo, a Republican, says the tax bill will likely mean less money in his pocket. 

"I think it hurts the middle class, particularly the New York area. Everyone has high property taxes around here," said Rizzo. 

All of Long Island's members of Congress on both sides of the aisle have come out against the Senate GOP tax plan.

"What it really is, is taking money from places like New York state and Long Island and sending it to other parts of the country," said Rep. Peter King (R-Seaford). 

Long Islanders would also no longer be able to write off state and local taxes. 

According to Mitch Pally, with the Long Island Builders Institute, the plan is also bad for the housing market – saying people will be wary about buying an expensive home in New York. 

In fact, some experts say the Senate tax bill could wind up lowering property values across the Island. 

"I've had experts tell me the value of the home is going to be reduced anywhere from 10 to 20 percent, if not more," said Rep. King. 

For some Long Islanders, like Robert Peterson of Stony Brook, the bill would be a welcome change if it helps the country in the long run.

"We need to start to boost the economy, and it's all part of it, the taxes," said Peterson. 

The bill is now heading to a conference committee in Washington where additional changes could be made.
 

  • SlideshowsSlideshowsMore>>

  • Aftermath of bridge collapse in Genoa, Italy

    Aftermath of bridge collapse in Genoa, Italy

    A general view of the Morandi bridge which collapsed on August 14, 2018 in Genoa, Italy.A general view of the Morandi bridge which collapsed on August 14, 2018 in Genoa, Italy.
    A general view of the Morandi bridge which collapsed on August 14, 2018 in Genoa, Italy.A general view of the Morandi bridge which collapsed on August 14, 2018 in Genoa, Italy.

    A bridge on a main highway linking Italy with France collapsed in the Italian port city of Genoa during a sudden, violent storm, sending vehicles plunging 45 meters (nearly 150 feet) into a heap of rubble.

    A bridge on a main highway linking Italy with France collapsed in the Italian port city of Genoa during a sudden, violent storm, sending vehicles plunging 45 meters (nearly 150 feet) into a heap of rubble.

  • Just Married on Long Island

    Just Married on Long Island

    News 12 Long Island wants to announce your wedding. Share your pictures and videos with News 12 Long Island viewers!

    News 12 Long Island wants to announce your wedding. Share your pictures and videos with News 12 Long Island viewers!

  • Wicked August weather photos

    Wicked August weather photos

    Wednesday, August 8 2018 9:22 AM EDT2018-08-08 13:22:29 GMT
    Lightning in Plainview on Aug. 7Lightning in Plainview on Aug. 7

    August 2018 has brought Long Island some hot, hazy and humid weather. But it also brought some wicked and wild storms! Check out some photos from across the Island.

    August 2018 has brought Long Island some hot, hazy and humid weather. But it also brought some wicked and wild storms! Check out some photos from across the Island.

sorry to interrupt
your first 20 are free
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please enjoy 20 complimentary views of articles, photos, and videos during the next 30 days.
you have reached your 20 view limit
Access to News 12 is free for Optimum, Comcast®, Spectrum Networks® and Service ElectricSM customers.
Please login or create an account to continue enjoying News12.
Our sign-up page is undergoing maintenance and is not currently available. However, you will be given direct access to news12.com while we complete our upgrade.
When we are back up and running you will be prompted at that time to complete your sign in. Until then, enjoy the local news, weather, traffic and more that's "as local as local news gets."