STOP WASHINGTON’S MASSIVE TAX INCREASE ON LONG ISLAND HOMEOWNERS
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For decades, Suffolk County homeowners have relied on the ability to deduct their full state and local taxes (SALT) on their federal tax returns. The new federal tax plan significantly limits this critical deduction for countless suburban households across Long Island, resulting in a massive tax increase for working and middle class families.
To protect homeowners, earlier this year, Governor Andrew M. Cuomo signed state legislation authorizing local municipalities to establish charitable funds to which homeowners may contribute, and later receive, both income and property tax credits. Governor Cuomo’s plan to utilize existing provisions in the federal tax code, which reduces the property tax and income tax burden for families across Long Island and the state, is threatened by an unprecedented action by the Internal Revenue Service (IRS). The IRS has proposed new regulations that would cripple the ability of taxpayers to utilize this state-authorized mechanism.
We are calling on the IRS to be fair and consistent across the nation, and halt these unprecedented regulations. Sign our petition now and join thousands of New Yorkers who are fighting back against this massive tax increase.
Next month, Suffolk County Executive Steve Bellone will travel to Washington D.C. to testify at the IRS public hearing on these proposed regulations. By October 11th, we encourage you to submit a comment below on why YOU oppose these regulations. We will submit them to the IRS on your behalf as part of the official record during the comment period and public hearing. MAKE SURE YOUR VOICE IS HEARD!
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