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New York Budget Deal aims to reject GOP tax law



Governor of New York, Andrew Cuomo, announced on Friday a state budget to stem the impact of Republicans' tax reform on New Yorkers.

The proposed workarounds come months after President Trump Donald John Trump's Trump Advisers Push Harder Measures Toward Russia: Report Eric Holder says he will decide on a 2020 run from early next year Trump wrote back to 8 year-old kidney search for dad MORE signed the new federal tax bill into law. This measure restricts the amount of state and local taxes that citizens can deduct from their federal taxes ̵

1; a provision that affects taxpayers in high-tax jurisdictions such as New York.

Democrat Cuomo has spoken out against the GOP tax plan. in particular the elimination of full state and local tax deductibility.

"New York will also be the first state to take new measures to shield families from the devastating federal tax law that abolishes the full state and local deductibility – an economic arrow that attracts the heart of the state's economy," said Cuomo in Remarks at the State Capitol

Under the proposal of Cuomo, the state would create two new nonprofit organizations for health care and education. Taxpayers donating to these charities may deduct contributions from their federal and state taxes

At the same time, the proposal authorizes school districts and local governments to set up charitable funds. Contributions to such funds would lead to a reduction in local property taxes through a local loan, Cuomo's office said.

The budget would also allow employers to opt for a payroll tax that replaces an employee-side income tax. Function (d, s, id) {
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