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Congresswoman Claudia Tenney Votes to Pass Comprehensive Tax Reform

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Washington, November 16, 2017 | comments

Washington D.C.—Today, Congresswoman Claudia Tenney (NY-22) voted in favor of the Tax Cuts and Jobs Act, H.R. 1.

“Our current tax code is broken. It’s riddled with loopholes and kickbacks that penalize success and hurt hardworking taxpayers. This is why tax reform is a priority for me and this is why I voted to move the debate forward, despite concerns I continue to have regarding the deductibility of state and local taxes (SALT).

I advocated so strongly for the SALT deduction because it shields New Yorkers from the oppressive burden Albany places on our taxpayers. Albany politicians have zero respect for the taxpayers. Governor Cuomo and liberals in the Assembly continue to increase our bloated budget while hiking taxes on hardworking New Yorkers. Their harmful habits will never change.

The eight counties I represent have among the highest property tax rates as a percentage of home value in the nation because Albany’s crushing unfunded mandates continue to drive up the cost of living in our state. I have always put the taxpayers I represent first and it is long past time for politicians in Albany to do the same. Now it's time for Governor Cuomo and the State Legislature to lower the state taxes so the federal tax cut has an even larger tangible impact for New Yorkers.

I will continue to make state and local tax deductibility a top priority as this bill heads to conference between the House and Senate.

H.R. 1 begins to tackle our costly, complex, and unfair tax code by doubling the standard deduction for individuals and families, which will dramatically increase the simplicity of our tax code. In addition, the bill reduces the number of brackets and lowers tax rates in each, except for the rate on the highest income earners, which remains unchanged. All Americans deserve to keep more of what they earn and this bill will put more money in back in the paychecks of hardworking New Yorkers.

By doubling the standard deduction, simplifying the bracket structure, and lowering rates, low- to middle-income individuals and families will benefit from a tax structure that is easier to understand and more generous.

A married family of four in the 22nd District with a median household income of $85,692 could expect a tax cut of almost $1,900 while a single filer with a median income of $52,967 could see a tax cut of almost $1,700.

H.R. 1 is a step in the right direction. While this bill is not perfect in its current form and there are changes I will continue to advocate for, especially on the SALT front, I strongly believe that passing the Tax Cuts and Job Act is a critical step to move this important process forward and ensure our tax codes reflects the values of fairness and hard work,” said Congresswoman Claudia Tenney.

The Tax Cuts and Jobs Act:

·             Simplifies the current tax code by consolidating seven tax brackets for individuals to three tax brackets

·             Doubles the standard deduction from $12,700 to $24,000

·             Increases the child tax credit from $1,000 to $1,600

·             Preserves the state and local tax deduction for property taxes up to $10,000

·             Preserves the Home Mortgage Interest Deduction

·             Preserves the tax-free 401(k) contributions

·             Reduces rates for pass-through entities earning less than $150,000 from 25 percent to 9 percent

·             Reduces the Corporate tax rate from 35% to 20%

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Tags: Economy

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