Newcomer U.S. Congressman Pat Ryan joined Democrats and Republicans yesterday in establishing a bipartisan caucus to restore the State and Local Tax (SALT) deduction to provide significant relief from double taxation.
The SALT Caucus will represent the 118th Congressional District.
“I came to Congress to deliver relief for middle class New Yorkers who are struggling to afford everything from housing to healthcare, heating their home to fueling their car,” said Ryan. “The SALT deduction cap is blatant double taxation and unjustly punishes hard working families across the Hudson Valley. I’m proud to stand and fight with colleagues from both parties to reinstate this deduction and put dollars back in the pockets of Hudson Valley families.”
Ryan, a Democrat, gained bipartisan support from Republicans toward his efforts.
Orange County Executive Steven Neuhaus, a Republican, said, “Reversing the loss of all State and local tax deductions will help Orange County families. I urge the entire United States Congress to repeal the SALT deduction cap and appreciate Congressman Ryan’s support for such repeal.”
Dutchess County Executive William F.X. O’Neil, also a Republican, noted, “We are in favor of actions that reduce undue tax burden on Dutchess County residents. For each of the past nine years, our County administration has provided meaningful tax relief to our residents, and any endeavor the federal government takes to complement Dutchess’ efforts would be welcomed. We are hopeful the formation of the SALT Caucus will similarly lessen the tax burden for Dutchess County families.”
Orange County Regional Chamber of Commerce President Heather Bell observed, “Congressman Ryan has been most actively pursuing the initiatives that he promised to focus on. As a proponent for small businesses, he is intimately aware of how the SALT tax has impacted their livelihood, which continues to falter post-covid and through a workforce crisis. With unemployment taxes and fraud running rampant, anything that will provide reprieve to his constituents will be appreciated.”
The 2017 Tax Law imposed a $10,000 cap on the SALT deduction. According to Ryan, this policy violates 150 years of precedent in federal tax law, disproportionately harms New York, and unfairly imposes a marriage penalty on couples filing jointly by having them face the same $10,000 cap as individuals.
According to research by the National Association of Realtors, 35% of New York State taxpayers claimed the SALT deduction in 2016 before it was capped. Raising the SALT cap would lower taxes for tens of thousands of New Yorkers.
