Lockheed Martin Secures $328.5 Million U.S. Defense Contract for Advanced Systems Supporting Taiwan Air Force 
Lockheed Martin Secures Nearly $500 Million in U.S. and Allied Defense Contracts 
Disney Agrees to $10 Million Settlement Over Child Privacy Violations on YouTube 
Nike Stock Rises After CEO Elliott Hill Buys $1 Million in Shares 
Meta Acquires AI Startup Manus to Expand Advanced AI Capabilities Across Platforms 
Samsung Electronics Secures Annual U.S. Licence for China Chip Equipment Imports in 2026 
L&F Tesla Battery Supply Deal Value Drops Sharply Amid EV Market Slowdown 
Australia’s Modern Gold Rush: Hobby Prospectors Flock to Victoria’s Golden Triangle 
Boeing Secures $8.6 Billion Pentagon Contract for F-15 Jets for Israel 
Vanda Pharmaceuticals Wins FDA Approval for New Motion Sickness Drug After Four Decades 
Anghami Stock Soars After Strong H1 2025 Results, Revenue Nearly Doubles on OSN+ Integration 
Applied Digital Stock Rises on AI Cloud Spinoff Plan and ChronoScale Launch 
Novo Nordisk and Eli Lilly Cut Obesity Drug Prices in China, Boosting Access to Wegovy and Mounjaro 
Neuralink Plans Automated Brain Implant Surgeries and Mass Production by 2026 
Boeing Secures Multi-Billion Dollar Defense Contracts for F-15IA Jets and E-4B Aircraft Support 
Novo Nordisk and Eli Lilly Cut Obesity Drug Prices in China as Competition Intensifies 
ByteDance Plans Massive AI Chip Spending Boost as Nvidia Demand Grows in China 
Washington, D.C, Oct. 13, 2017 -- A bipartisan group from the U.S. Conference of Mayors (USCM) will host a press conference call on Monday, October 16 at 12:00 pm EDT to provide a snapshot of the damaging impact a repeal of the state and local tax (SALT) deduction will have on middle-class and working families. During the call, Republican and Democratic mayors from blue and red states will share new analysis compiled by the Government Finance Officers Association (GFOA), showing that many middle-income homeowners will see their taxes go up, not down, under the current tax reform framework.
|
|||
According to a recent report by the GFOA, if the SALT deduction is eliminated, almost 30 percent of taxpayers - including individuals in every state and in all income brackets - would be adversely impacted. This would include over 43 million tax units representing well over 100 million Americans. By all accounts the elimination of SALT would disproportionately affect cities, leaving large numbers of middle class Americans paying more in taxes on dollars they will never see in the first place. This is effectively double taxation.
In September, 178 bipartisan mayors issued a letter to Congress urging members to maintain the SALT deduction. See full text of the letter here.
WHAT:
National press conference call with bipartisan mayors calling for the preservation of the SALT tax deduction and for Congress to fight double taxation
WHO:
Columbia (SC) Mayor Steve Benjamin, USCM Vice President
Burnsville (MN) Mayor Elizabeth Kautz, USCM Past President
Des Moines (IA) Mayor Frank Cownie, USCM Trustee
Findlay (OH) Mayor Lydia Mihalik
Emily S. Brock, Director, Federal Liaison Center, Government Finance Officers Association (GFOA)
Tom Cochran, USCM CEO & Executive Director
* additional speakers pending
WHEN:
Monday, October 16 at 12:00 pm EDT
HOW:
1 (866) 868-1282, Passcode: 7460 887
RSVP:
Media interested in joining the call should RSVP to Sara Durr at [email protected]
###
The U.S. Conference of Mayors is the official nonpartisan organization of cities with populations of 30,000 or more. There are nearly 1,400 such cities in the country today, and each city is represented in the Conference by its chief elected official, the mayor. Like us on Facebook at facebook.com/usmayors, or follow us on Twitter at twitter.com/usmayors
Attachments:
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/b63e4ae3-0bff-49e8-97ed-beefd1b9d86a
Sara Durr The U.S. Conference of Mayors 202-215-1811 [email protected]
