STATEN ISLAND, N.Y. -- Rep. Daniel Donovan was one of only 13 Republicans to vote "no" on the GOP tax bill passed in the House of Representatives Thursday by a vote of 227 to 205.
The $1.5 trillion tax bill has recently come under scrutiny after the Joint Committee on Taxation, the Congress' bipartisan tax policy advisers, said that the amended Senate version of the bill will raise taxes on lower- and middle-class families.
Donovan said he feels the proposed bill places an unfair burden on New Yorkers by ending the state and local income tax deduction, capping the mortgage interest deduction for loans that are below the median home price in his district, and capping the property tax deduction at $10,000.
"The math just doesn't add up. This would be a tax increase for far too many families that I represent," said Donovan. "I will not support legislation that cuts taxes for everybody else in the country and sends my constituents the bill."
The new policy would see New York, New Jersey, California and Maryland pay an additional $16.7 billion in taxes over the next 10 years, while the remaining 46 states would see a $101.5 billion tax cut, according to the Institute on Taxation and Economic Policy.
"Let's stop pretending this bill is good for everybody. It's shifting the tax burden to families in states that already pay exorbitant taxes in order to fund tax cuts elsewhere," Donovan said.
"Folks in Washington view New York as a piggy bank to continue subsidizing services for other parts of the country, but the party won't last forever," Donovan added.
He concluded that while opposing the currently proposed legislation, he is open to alternative solutions.
"Tax credits, income caps, and other ideas that have been batted around should all be on the table," said Donovan.
The Senate Finance Committee will vote on the legislation on Friday, with the full Senate vote expected to take place after Thanksgiving.