As Tax Day Approaches, Reps. Nadler, Lowey, and Suozzi Call for Tax Equity
Washington, April 11, 2019
Washington, D.C. — Yesterday, Representatives Jerrold Nadler, Nita Lowey, and Tom Suozzi of New York reintroduced the Tax Equity Act, which would adjust federal income tax brackets to reflect the actual cost of living in major metropolitan areas, where higher tax burdens and higher basic living costs make it significantly more expensive compared to other areas.
The three Democratic Members of Congress behind the Tax Equity Act legislation represent districts that span New York City, the Lower Hudson Valley, and Long Island – areas that experience higher tax and basic living costs than most other parts of the country. Even though a dollar does not go as far in these communities as it does elsewhere in the country, residents are taxed at the same level as someone living in a lower-cost area. The Tax Equity Act directs the Internal Revenue Service (IRS) to adjust tax brackets for major metropolitan areas with above average cost of living so as to better reflect the financial situation of taxpayers. Communities with average or low costs of living would not be impacted.
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