Schumer stops by a Victor home to talk about preserving tax deductions

Mar 16, 2017
Originally published on March 16, 2017 4:26 pm

Senator Charles Schumer  (D-NY) made a stop in Victor on Thursday to launch a push to preserve tax deductions.

He went to a home in that Ontario County town to say that local homeowners are in jeopardy since the new U.S. Treasury Secretary, Steve Mnuchin, has talked about changes to property tax deductions.

Schumer is concerned about the possible loss of deductions for mortgage interest and real estate taxes.

“This will apply to everybody that itemizes in New York State. We had 2.3 million filed for the real estate and 1.9 million for the mortgage, so that’s a lot of people."

Schumer says that eliminating those deductions could impact the local housing market, and perhaps discourage people looking to buy a home in the Finger Lakes area.

The woman whose home Schumer visited, Kathleen Draper, says if those deductions are reduced, it could make her home less attractive to prospective homebuyers.

“Well, I am actually trying to sell the house right now so when things like that do happen, it does make it tougher to sell. We’ve just had a tax increase here in the Town of Victor , so that on top of this potential , it makes it much, much tougher," Draper told reporters.

Mnuchin said earlier this month that the Trump administration's tax reform plan will not change the deductibility of mortgage interest and charitable contributions.

During his stop in Victor, Schumer was also asked by reporters about his opinion of the first budget proposed by President Donald Trump which calls for significant increases in military and border-security spending and cuts in many other parts of government.

Schumer, who is also the Senate Minority Leader, says this spending plan cuts too many important programs in areas that include education, the environment and programs for seniors.

“I think this budget goes too far; if you want to increase defense spending, to help the troops and do some of that, yes, but don’t do it and cut all of the vital things for the middle class.”

Others weighing in include  Congresswoman Louise Slaughter, a Fairport Democrat, who  says the cuts the president are talking about are ‘draconian,‘  and Republican Congressman Chris Collins, who says Trump’s spending plan provides a ‘clear vision for the role the federal government should play.’

Video by Martin Kaufman