State Comptroller DiNapoli talks tax plan
State Comptroller Thomas DiNapoli has weighed in on the Republican's proposed tax plan that is before Congress. He states that the plan could be devastating for middle-class taxpayers. He contends that benefits to the wealthy do not tend to trickle down to the middle class and that changes to the deduction of state and local taxes on federal returns will squeeze those households. DiNapoli predicts this will tighten local budgets and delay necessary infrastructure projects.
He also mentioned that cuts to education and social programs are likely in order to reduce the expected deficit.