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ICYMI: Suffolk County Executive Bellone Launches Online Petition to Urge Washington to Restore Salt Tax Deductions

Suffolk County Executive Steve Bellone today reminded residents of the online petition he launched as part of his SALT Cap Response Plan. Later this year, the County Executive will be traveling to Washington, DC with the petition signatures to meet with federal officials and policy makers to advocate for the restoration of these vital deductions. In addition to signing the petition, residents are urged to contact their members of Congress directly to ensure their voices are heard.

 

“We will not sit idly by while Washington wages war against Long Islander homeowners,”said Suffolk County Executive Bellone.  “Our residents need to make their voices heard and tell Washington to restore their deductions now.”

 

Yesterday, County Executive Bellone announced a comprehensive action plan to protect homeowners who will be negatively impacted by the new federal tax law that unfairly repeals their state and local tax deductions. The SALT Cap Response Plan would help restore tax deductibility for affected homeowners and ease their financial burden as a result of this costly impact.

 

As part of this plan, County Executive Bellone has introduced a resolution to establish a charitable gift reserve fund and to authorize charitable gift reserve fund tax credits. This would authorize any owner of real property located within the County to make a contribution to the Suffolk County Charitable Gift Reserve Fund and claim credit against such property taxes equal to 95 percent of that contribution. The County resolution complies with Governor Cuomo’s New York State-passed provision to allow taxpayers to make a voluntary charitable contribution to a charitable gift reserve fund, so long as such fund is established by a given local government.

 

In addition to the SALT Cap Response Plan, County Executive Bellone also supports Governor Cuomo’s proposed plan to make the 2 percent property tax cap permanent. The property tax cap has saved Long Island homeowners thousands of dollars. For the last seven years, County Executive Bellone has always signed a budget that complies with the property tax cap.

 

A copy of the online petition can be found here and text below.

 

Text of Online Petition

 

TELL WASHINGTON: RESTORE OUR TAX DEDUCTIONS

 

For decades, Long Island homeowners have relied on the ability to deduct their full state and local taxes (SALT) on their federal tax returns. Now as homeowners begin to file their taxes, thousands of working and middle class Long Islanders are being blindsided with what is amounting to a massive tax increase.

 

In response, Suffolk County Executive Steve Bellone has launched a comprehensive action plan to protect homeowners who will be negatively impacted by the new federal tax law that unfairly repeals these critical deductions. The SALT Cap Response Plan will help restore tax deductibility for affected homeowners and ease their financial burden as a result of this costly impact.

 

But we can’t stop there.

 

Homeowners all across Long Island are joining together to call on Washington to take action by restoring these vital tax deductions and ending the assault on middle class homeowners. Sign our petition now and join thousands of New Yorkers who are fighting back against this massive tax increase. Later this year, the County Executive will be traveling to Washington, DC to meet with federal officials and policy makers to advocate for the restoration of these vital deductions and will submit these signatures on behalf of all Long Islanders.

 

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