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BIPARTISAN MAYORS FROM SUBURBAN AREAS TO PROVIDE SNAPSHOT OF DAMAGING IMPACT OF SALT TAX REPEAL

Republican and Democratic Mayors United Firmly Against SALT Elimination’s Extreme Hit to Household Budgets; Will Call on Congress to Stand Against Double Taxation Press Conference Call Monday, October 16 at 12:00 pm ET

/EIN News/ -- Washington, D.C, Oct. 13, 2017 (GLOBE NEWSWIRE) -- A bipartisan group from the U.S. Conference of Mayors (USCM) will host a press conference call on Monday, October 16 at 12:00 pm EDT to provide a snapshot of the damaging impact a repeal of the state and local tax (SALT) deduction will have on middle-class and working families. During the call, Republican and Democratic mayors from blue and red states will share new analysis compiled by the Government Finance Officers Association (GFOA), showing that many middle-income homeowners will see their taxes go up, not down, under the current tax reform framework.

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According to a recent report by the GFOA, if the SALT deduction is eliminated, almost 30 percent of taxpayers - including individuals in every state and in all income brackets - would be adversely impacted. This would include over 43 million tax units representing well over 100 million Americans. By all accounts the elimination of SALT would disproportionately affect cities, leaving large numbers of middle class Americans paying more in taxes on dollars they will never see in the first place. This is effectively double taxation.

 

In September, 178 bipartisan mayors issued a letter to Congress urging members to maintain the SALT deduction.  See full text of the letter here.

 

WHAT:           

National press conference call with bipartisan mayors calling for the preservation of the SALT tax deduction and for Congress to fight double taxation

WHO:

Columbia (SC) Mayor Steve Benjamin, USCM Vice President

Burnsville (MN) Mayor Elizabeth Kautz, USCM Past President

Des Moines (IA) Mayor Frank Cownie, USCM Trustee

Findlay (OH) Mayor Lydia Mihalik

Emily S. Brock, Director, Federal Liaison Center, Government Finance Officers Association (GFOA)

Tom Cochran, USCM CEO & Executive Director

* additional speakers pending

WHEN:          

Monday, October 16 at 12:00 pm EDT

HOW:             

1 (866) 868-1282, Passcode: 7460 887

RSVP:

Media interested in joining the call should RSVP to Sara Durr at sara@durrcommunications.com

###

 

 The U.S. Conference of Mayors is the official nonpartisan organization of cities with populations of 30,000 or more. There are nearly 1,400 such cities in the country today, and each city is represented in the Conference by its chief elected official, the mayor. Like us on Facebook at facebook.com/usmayors, or follow us on Twitter at twitter.com/usmayors

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b63e4ae3-0bff-49e8-97ed-beefd1b9d86a

Sara Durr
                    The U.S. Conference of Mayors
                    202-215-1811
                    sara@durrcommunications.com
                    

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