DiNapoli Says GOP Tax Bill Remains A Bad Deal For New York

New York Comptroller Thomas DiNapoli says the Republican tax bill moving forward in Congress remains a bad deal for New York.

DiNapoli says the cap on state and local tax deductions would nullify billion of dollars worth of deductions claimed by an estimated one-million New Yorkers.

He says the bill would also add to New York's heightened uncertainty surrounding state tax revenues and federal aid.

“I urge members of New York’s Congressional delegation to oppose this deeply troubling legislation. It has far-reaching and negative implications both for our state’s economy and for individual New Yorkers all across the state.” said DiNapoli.

The bill is awaiting a floor vote in the House that is expected later today.  The Senate will vote on the tax bill tonight.

The bill lowers the corporate tax rate and aims to reform the complex federal tax code.