Briella TomassettiJan 9, 2018, 7:18 pm

NY lawmakers introduce new bill that benefits taxpayers

Legislation would provide relief to people living in high-cost states like NY, NJ

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NEW YORK — State lawmakers from across the area introduced legislation that could potentially restore state and local tax deductions. Together Democratic Congresswoman Nita Lowey and Republican Congressman Peter King are co-sponsoring a bill that could change the game for angry taxpayers.

"Yesterday, I introduced the 'Securing Access to Lower Taxes by Ensuring Deductibility Act,’ or ‘Salt Deductibility Act,’ for short," says Lowey.

The new federal tax law puts a $10,000 cap on deductions for state and local taxes. However, the bill would restore the state and local income tax deductions in their entireties.

Lowey says although she and Congressman King don't always see eye-to-eye, they're on the same exact page when it comes to the issue. Their legislation would provide relief to people living in high-cost states like New York, New Jersey, and California, who actually get less money back from the government than they pay.

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