USA Today Red Joseph Spector, USA TODAY Network
Published 10:31 p.m. ET December 2, 2017 | Updated 10:32 p.m. ET December 2, 2017
Govt. Andrew Cuomo, on Saturday, December 2, 2017, spoke before a trip to Puerto Rico about the impact of the federal tax reform plan in Washington.
Joseph Spector, Albany Office
Saying to journalists "we have the votes", Senate Majority Leader Mitch McConnell, Republican for Kentucky, walks towards the camera after a meeting closed door with Republican legislators to advance the revision of the GOP tax code, in Capitol Hill, Washington, on Friday, December 1, 2017. (Photo: Andrew Harnik, AP)
ALBANY, NY – The governor Andrew Cuomo and the Democratic leaders in New York ripped the Senate version of the tax reform bill pbaded in Congress early on Saturday.
Cuomo said the Senate version is no better than the House bill pbaded this month that would end state and local tax deductions, which would particularly affect high-tax states like New York.
The Senate bill was initially worse for New York than the bill that finally happened overnight: it withholds property tax deductions of up to $ 10,000 per year.
But Cuomo and other Democratic officials said the change is little consolation for a state that grants $ 40 billion more in tax revenue to Washington than it receives in return.
"New York, they use it as a piggy bank to finance tax cuts in other Midwestern and Southern states, that's exactly what they're doing," Cuomo said.
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Like the House bill, the Senate plan would almost double the standard deduction and expand the child tax credit.
It would allow tax filers to deduct mortgage interest up to $ 1 million, while the House bill would cost $ 500,000.
The Senate bill would also repeal the individual mandate to buy health insurance under the Affordable Care Act, a measure that would impact New York's robust health exchange enrolls more than 4 million people each year.
Now the Senate and the House will seek to reconcile their plans with the hope of reaching an agreement before the end of the year.
The Republicans and the White House praised the Senate pbadage of the bill.
"The police" In this bill we will reduce taxes on working families and put our economy on a path of sustainable economic prosperity and job creation, "the White House said in a statement. New York homes that detail your taxes, limiting how much you could deduct would have a significant impact on people's finances, especially in the state, which has one of the highest property taxes in the country.
For example, the The average property tax bill in Westchester County is $ 15,000, the largest amount of any county in New York, said a report by state Comptroller Thomas DiNapoli last month.
If President Trump approves and signs a final bill, state and local governments, as well as schools, fear a loss of tax revenues, as well as pressure to lower municipal taxes to compensate the cut in income tax deductions.
"New Yorkers will be especially beaten," the United Teachers Union of the State of New York said in a statement.
"The Elimination of Local and State Tax d Education will undoubtedly lead to mbadive tax increases for many middle-clbad families, taking money out of their domestic budgets so that the rich can get rich."
Cuomo and other Democrats have pressured Republicans in Congress from New York to reject tax reform.
Although Democratic Senator Kirsten Gillibrand and minority leader Chuck Schumer criticized the measure, members of the House of Republicans have split.
Four of the nine members voted in favor of the project last month.
"Fortunately, the fight is not over. We can win this, but only if we all get involved," said New York City Mayor Bill de Blasio, a Democrat.
Joseph Spector is chief of the Albany (NY) office of USA TODAY Network
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