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Sen. Schumer Pushes To Preserve Tax Deductions For Middle Class

ALBANY, N.Y. (CBSNewYork/AP) — U.S. Senate Minority Leader Charles Schumer has vowed to fight President Donald Trump's tax plan. Schumer says the plan would strike a critical blow to New York's middle-class homeowners and taxpayers.

Schumer on Sunday denounced the tax code Trump proposed this week that would end the federal deduction for state and local taxes.

"The reviews are in," said Schumer in a Sunday press conference, "from economists, to experts, to the National Association of Counties, and what they're saying is, is that this plan is not good for New York, Long Island, or middle class people in the rest of America."

Schumer was flanked by local homeowners who he said would be especially vulnerable to the president's plan.

Schumer says reductions or removal of the deductions would hit New York especially hard due to local cost of living and higher local property tax burden. Schumer says eliminating the deductions could cost New York residents an average of $4,500 per year.

He said Trump's tax plan would cost the average New York City taxpayer an extra $5,500, and $4,300 for people on Long Island.

"The elimination of state and local deductibility is a dagger aimed at the heart of middle class folks throughout New York State," Schumer said. "Nothing could be worse for us."

Instead, Schumer called for any potential tax cuts to be aimed at the middle class.

"God bless wealthy people," he said, "they're doing better than ever. I don't begrudge them, but they don't need the tax breaks the way the middle class and people trying to get to the middle class need."

Under the current system, taxpayers who itemize deductions on their federal income tax returns can deduct state and local real estate and personal property taxes as well as either income taxes or general sales taxes.

On Sunday, Schumer pledged to wage a "strong, strong fight" to get both get rid of the elimination of state and local deductibles, and focus future tax cuts on the middle class and people trying to get to the middle class.

For his part, Trump said on CBS's "Face the Nation" Sunday that he blames Schumer and his allies for blocking the president's priorities on the economy, health care, immigration, and other issues.

"The Democrats have been totally obstructionist," Trump said. "Chuck Schumer has turned out to be a bad leader. He's a bad leader for our country."

Wednesday's announcement from the Trump administration served as the start of a process that will play out over the next eight months or so — the president has said he hopes to wrap up negotiations with Congress on tax reform by the end of the year.

(© Copyright 2017 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)

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