Some Long Islanders skeptical about proposed GOP tax plan
President Donald Trump is touting his proposed tax cut plan as a "Christmas present" for the middle class, but many Long Island residents are not convinced.
The popular online real estate website Trulia says Long Island tops the list of regions across the country that will be hit the hardest.
Economic analyst Marty Cantor says it could affect current and future homeowners in a few different ways, including capping the deduction for state and local property taxes at $10,000.
"Real estate values in the short term will go down, however, you can't look at Long Island in a vacuum. It's part of a region - Connecticut and New Jersey will be impacted as well," says Cantor.
Analysts also say the tax plan would lower taxes on the richest Americans.
Rob Eisenberg, of Melville, agrees and says it helps businesses more than individuals.
"I think it's good for the corporations and donors and the Republican party, at least in their own mind, but I don't think it's good for us Long Islanders, New Yorkers, Californians, communities that want to invest in themselves and pay to have services they want," says Eisenberg.
Florence Delustro, of Bethpage, says she is going to hope for the best.
"Anything should be better than what we have right now," says Delustro.
The House is expected to vote on the bill Tuesday, and the Senate after that.
President Trump wants to sign it before Christmas.