I believe you can spend your money better than the government can spend your money. Government services require revenues, but it's hard to believe that every dollar of this year’s $3.7 trillion budget contributes meaningfully to economic growth or government operations. Every dollar spent inefficiently is a dollar out of your pocket that cannot circulate through the economy, stifling growth and holding back our full potential.
Both parties are guilty of creating a tax code is overly complex, inefficient, and unfair. I support a comprehensive, back-to-the-drawing-board approach in which both parties work together to investigate every loophole and deduction. By streamlining the tax code, we can find ways to lower overall tax rates, simplify our system, and help families and small businesses succeed.
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“It is wrong and irresponsible for the House Republican leadership to schedule a vote today on legislation to make permanent the cutting back of the State and Local Tax (SALT) Deduction. This legislation unfairly targets our hardworking constituents while subsidizing most of the rest of the country.
Staten Island, NY – U.S. Representative Dan Donovan (R-NY) released a statement ahead of a scheduled vote on H.R. 6760, a piece of tax legislation that would permanently cap the deduction for State and Local taxes (SALT) at $10,000 and raise the threshold for the itemized medical expense deduction after 2020: