There will be an event to Present Congressman Katko with a $1.5 Trillion Dollar Check to the Rich. According to CNY Solidarity Coalition, Congressman Katko voted for the House tax plan that delivers huge tax cuts to the richest 1% and wealthy corporations, funded by increasing taxes on millions of middle-class Americans and by slashing Medicare, Medicaid and education.
CNY Solidarity Coalition, speakers will include NY-24 Congressional Candidate Dana Balter and others TBA. Friday, November 17, Noon-12:30 pm at Rep. John Katko’s office at 440 S. Warren St., Syracuse, NY 13202 (sidewalk outside the building)
Effects of The House Republican Tax Plan on the Residents of New York’s 24th Congressional District
General Analysis of the GOP Tax Plan from Americans for Tax Fairness
- 13 Terrible Things about the Republican Tax Plan
Tax Cuts for New York’s Richest 1%
- The richest 1% will get 42% of the entire tax cut by the tenth year.
- Their tax cut will be $34,130 a year, on average.
- There are 96,500 New York taxpayers in the richest 1%.
- They earn at least $1,142,360 and this group’s average income is $4,425,000.
[Sources: Institute on Taxation and Economic Policy (ITEP) and ITEP taxpayers in top 1%]
Tax Increases on New York’s Middle Class
- 24% of New York households would see their taxes increase in 2027 by $3,510 on average.
- 19% of households making between $32,490 and $56,290 would see their taxes increase by $610 on average.
- 25% of households making between $56,290 and $91,120 would see their taxes increase by $1,280 on average.
- 34% of households making between $91,120 and $161,000 would see their taxes increase by $2,220 on average. [Sources: Institute on Taxation and Economic Policy]
Harmful Effects in New York from Partially Repealing the State and Local Tax Deduction
- In New York, 35% of all taxpayers claim the SALT deduction, which averages $22,200. [Source: Tax Policy Center] In New York’s 24th Congressional District, 29% of taxpayers claim a SALT deduction of $12,100 on average. [Source: Government Finance Officers Association]
- Under the GOP tax plan, a middle-class couple with two children owning a home in New York’s 24th Congressional District could face a tax increase of up to $1,600 next year—due to the partial repeal of SALT. [Source: Americans Against Double Taxation]