Schumer: Democrats will try to overturn tax deduction cap

Senate Democrats are attempting to repeal an IRS regulation that is designed to keep people from exceeding the $10,000 limit on state and local tax deductions.

News 12 Staff

Oct 22, 2019, 4:11 PM

Updated 1,699 days ago

Share:

WASHINGTON (AP) - Senate Democrats are attempting to repeal an IRS regulation that is designed to keep people from exceeding the $10,000 limit on state and local tax deductions.
Democrats will force a vote, scheduled for Wednesday, to overturn the regulation through the Congressional Review Act, Senate Minority Leader Chuck Schumer told The Associated Press on Tuesday.
The vote takes aim at an IRS rule from June that prohibits states from creating charitable funds that taxpayers can contribute to in exchange for a state tax credit. The workaround gave residents in some states a way to get around the limit on so-called SALT deductions. The 2017 GOP tax overhaul limited the amount of state and local taxes that taxpayers can write off.
The Democrats' measure would use what has been a rarely successful legislative tool to overturn a regulation. The Congressional Review Act gave Congress the ability to overturn recently issued federal rules with a simple majority of both chambers of Congress and approval of the president.
"I think we are very, very close," Schumer said.
He said Americans living in suburban neighborhoods in high-tax states, like New York and California, are already paying some of the highest property and school taxes in the nation and "for the federal government to then penalize them is so unfair."
"The devastation in New York is very, very bad," Schumer said, adding that it is also affecting "many Republican states."
(Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


More from News 12
1:40
Officials: Fire displaces 18 from Hempstead home with illegal subdivisions

Officials: Fire displaces 18 from Hempstead home with illegal subdivisions

2:13
Sunny, hot Monday kicks off scorching week on Long Island

Sunny, hot Monday kicks off scorching week on Long Island

0:33
Police: Man arrested in Montauk hit-and-run that left e-bike riders hurt

Police: Man arrested in Montauk hit-and-run that left e-bike riders hurt

0:29
Nassau police: 2 women charged in Franklin Square home burglary

Nassau police: 2 women charged in Franklin Square home burglary

0:35
Police: Man accused of driving drunk in East Meadow with 13-year-old boy inside car

Police: Man accused of driving drunk in East Meadow with 13-year-old boy inside car

Is your dad awesome? Long Island tell us why your dad rocks!

Is your dad awesome? Long Island tell us why your dad rocks!

2:02
 A potential heat wave is coming. These sunscreen tips can save your skin

A potential heat wave is coming. These sunscreen tips can save your skin

0:42
Hundreds participate in 45th annual Shelter Island 10K & 5K Run/Walk

Hundreds participate in 45th annual Shelter Island 10K & 5K Run/Walk

1:20
Rapper Ja Rule performs at Mitchel Field as part of Nassau County’s Juneteenth celebration

Rapper Ja Rule performs at Mitchel Field as part of Nassau County’s Juneteenth celebration

0:31
Suffolk police: Motorcyclist seriously hurt in Bay Shore crash

Suffolk police: Motorcyclist seriously hurt in Bay Shore crash

1:46
‘We lost a brother.’ Friends, loved ones remember ‘Rookie of the Year’ firefighter at Hagerman FD

‘We lost a brother.’ Friends, loved ones remember ‘Rookie of the Year’ firefighter at Hagerman FD

1:34
Early voting begins on Long Island for Democratic primary elections

Early voting begins on Long Island for Democratic primary elections

All lanes clear on Southern State parkway following overturned vehicle crash

All lanes clear on Southern State parkway following overturned vehicle crash

0:27
Police: Owner of Huntington restaurant, 2 security guards arrested during State Liquor Authority compliance check

Police: Owner of Huntington restaurant, 2 security guards arrested during State Liquor Authority compliance check

2:07
New beach rules limiting access take effect after shooting in Long Beach

New beach rules limiting access take effect after shooting in Long Beach

2:04
Kevin Jonas undergoes surgery to remove common skin cancer; urges fans to get checked

Kevin Jonas undergoes surgery to remove common skin cancer; urges fans to get checked

2:15
Police: Woman arrested for motorcyclist hit-and-run in Patchogue

Police: Woman arrested for motorcyclist hit-and-run in Patchogue

2:15
Oakdale residents call for Islip officials to hold owners of former Dowling College more accountable

Oakdale residents call for Islip officials to hold owners of former Dowling College more accountable

2:07
Study: Food insecurity becomes growing problem for Long Islanders

Study: Food insecurity becomes growing problem for Long Islanders

0:41
Mastic Beach street renamed for teen who was killed 3 years ago

Mastic Beach street renamed for teen who was killed 3 years ago