Carve-out allows workers to deduct 100 percent of dues from income taxes
Union members will be able to fully deduct dues payments from their taxes thanks to a carve-out adopted by Democrats.
Democratic Gov. Andrew Cuomo, who received $4.4 million from organized labor groups over the course of his political career, signed off on a new budget that will allow union members to write off 100 percent of their dues or agency fees from their personal income taxes. The tax break is expected to return $35 million to members in 2018 and has generated controversy in the state.
Brian Sampson, president of Associated Builders & Contractors Empire State Chapter—an industry group for non-union construction workers and businesses—said that he expects the legislation to cost workers money in the short term, while boosting union coffers. The full write-off would give unions an incentive to hike dues and fees for workers, knowing that they will eventually get the money back.
More
DelMarVa's Premier Source for News, Opinion, Analysis, and Human Interest Contact Publisher Joe Albero at alberobutzo@wmconnect.com or 410-430-5349
The only union members than can deduct their dues are those that itemize deductions. Doubt many do that versus taking the standard deduction unless they earn over $100k/year and own a home.
ReplyDelete12:44
ReplyDeleteYou don't think these New York union members are itemizing their deductions? OH COME ON!!!!
This is just another way of funneling taxpayer money back to the dumbocrat coffers.
Subsidize union dues with taxpayer money. Unions donate to dumbocrats.
Money laundering!
Thank you mr. cpa 5:10
ReplyDelete"Most New York union workers—such as home health aides, school bus drivers, office clerks, along with public employees in upstate rural areas and small cities—won’t save anything from this new deduction," the Empire Center analysis said. "The benefits will flow almost entirely to the rarified class of union workers who make well above $100,000. These are mainly police officers, firefighters, and school teachers in Long Island and the lower Hudson Valley, along with the higher-paid New York City building trades."
It is just the old "scratch my back and I'll scratch yours" routine.
ReplyDelete