Washington, D.C, Oct. 16, 2017 (GLOBE NEWSWIRE) -- A bipartisan group from the U.S. Conference of Mayors (USCM) will host a press conference call today, 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.
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
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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/d6f04322-f23d-4931-a6d7-fa3677fc742b