Budgeting 101 - 27 East

Letters

Southampton Press / Opinion / Letters / 2355679
May 12, 2025

Budgeting 101

A simple fact about the SALT deductions is being obscured with Nick Lakota’s statements in the news. If the 2017 tax rules expire, residents will once again be able to deduct 100 percent of their state and local taxes. If all New York representatives vote together, the new budget will fail. “Fighting” for a higher limit is unnecessary.

The proposed reconciliation bill cuts taxes and once again has sunset rules for four years hence. This is not creating policy, it is political posturing. We need a long-term, stable tax policy. This is not the way to do it.

Overall budgeting is this simple: One cannot cut revenue while increasing spending and balance the budget. Glad these people are not managing my finances.

Amy Paradise

Hampton Bays