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Oct. 28, 2017

Valley News

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• EDITION •

2017

ELECTl~ N

COVERAGE I NORTH ELBA TOWN COUNCIL RACE SEES THREE CANDIDATES

Comptroller Y N O M E R E C G A L F HONORS offers North Y T U Country P E D N E L L FA economic forecast

Local sales tax collection strong, but job creation remains sluggish, says Thomas DiNapoli in Plattsburgh

pg. 2

I

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THREE RUN FOR TWO SEATS ON KEENE TOWN pg. 3 BOARD

By Pete DeMola EDITOR

FIVE SEEK TWO SEATS FOR JAY TOWN BOARD

PLATTSBURGH | Th e unemployment rate in the North Country is higher than the state average. Median household incomes are lower, and so is the labor participation rate. The population is shrinking. Job growth is largely frozen, and child poverty rates are higher. But property taxes are lower, sales tax collection is robust and there are a number of promising economic development and initiatives on the horizon.

Sgt. Eric Loiselle killed in line of duty in 2005 pg. 11

pg. 10

» Comptroller Cont. on pg. 4

State and local tax deduction emerges as flashpoint Congress weighing elimination of deduction for state income tax payments By Pete DeMola EDITOR

PLATTSBURGH | As Congress digs into tax reform this fall, the state and local tax deduction has left New York politicians rattled. The statute, known as SALT, allows taxpayers to write off payments to state and local governments from their federally taxable income. The U.S. Senate on Thursday voted 52-47 to repeal the measure that has been a part of the tax code since 1913.

Sen. Shelley Moore Capito (R-W.Va.), who sponsored the budget resolution, said SALT “disproportionately benefits the wealthy and high-earners.” The tax break, say supporters, also forces low-tax states to subsidize higher tax states, which tend to lean Democratic. Eliminating the break would raise $1.3 trillion over 10 years and that money “would be better spent on relief for the middle-class, working class folks,” said Capito, according to the New York Post. But state and federal officials from New York say a repeal would amount to double taxation for those ill-equipped to stomach an increase. “If we lose that deductibility of state and local taxes, it’s really a form of double taxation,” said State Comptroller Thomas DiNapoli in

» Tax Cont. on pg. 18

As Congress weighs tax reform, the potential elimination of the state and local tax deduction has generated a rare moment of political unity amongst Republicans and Democrats. Photo provided/Office of the Governor

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