Pilots Fear Retaliation for Refusing Middle East Flights Amid Ongoing Conflict 
China's AI Stocks Surge as Zhipu and MiniMax Hit Record Highs 
Bill Ackman Eyes New Fund to Bet Against Market Complacency 
Bank of America Identifies Top Asia-Pacific Semiconductor Stocks Poised for AI-Driven Growth 
SanDisk Joins Nasdaq-100, Replacing Atlassian on April 20 
Chinese Brands Are Taking Over Brazil — And It's Just Getting Started 
Disney Plans to Cut 1,000 Jobs Amid Ongoing Restructuring Efforts 
Lumentum Holdings Rides AI Wave With Order Book Filled Through 2028 
Abbott Laboratories Ordered to Pay $53 Million in Premature Infant Formula Lawsuit 
Goldman Sachs, ANZ Cut Oil Forecasts Amid U.S.-Iran Ceasefire Hopes 
Tokyo Electric Power Attracts Major Investors Amid Billion-Dollar Restructuring Push 
BHP's Incoming CEO Visits China Amid Pricing Dispute with CMRG 
TSMC Posts Record Q1 2026 Profits Driven by Surging AI Chip Demand 
Bendigo and Adelaide Bank Posts Strong Q3 Earnings, Announces AI-Driven Job Cuts 
Jefferies Upgrades Starbucks to Hold as China JV Deal Closes and U.S. Business Shows Signs of Recovery 
MATCH Act: How New U.S. Chip Legislation Could Freeze China's Semiconductor Ambitions 
Kia Cuts EV Sales Target for 2030 Amid Slowing Demand and U.S. Policy Shifts 
Washington, D.C, Sept. 27, 2017 -- In response to the Republican tax reform plan released today that included the elimination of the State and Local Tax Deduction (SALT), the President of the U.S. Conference of Mayors (USCM) and New Orleans Mayor Mitch Landrieu released the following statement:
|
|||
“The President’s current tax proposal would repeal the State and Local Tax (SALT) deduction, increasing taxes on millions of hard-working American families – this is unacceptable. Yet again, we are discussing a federal plan that puts ordinary American people at the losing end. Every state will be hurt by this change – in my home state of Louisiana alone this proposal would deny Louisiana taxpayers over $3 billion in deductions annually.
“Today, a bipartisan group of Mayors from around the country are here in D.C. to work with Congress for a fairer, more equitable tax code. Mayors are ready to speak out and educate Congress, and the public, on why the State and Local Tax deduction cannot and must not be eliminated.”
On Monday, 130 bipartisan mayors issued a letter to Congress urging members to maintain the SALT deduction. See full text of the letter here.
On Tuesday and Wednesday of this week, a bipartisan delegation of Mayors met with leaders and members of the House and Senate urging Congress to include state and local officials early in the process and to follow the regular order that will allow for ample testimony, review and consideration of the impact that any changes to the tax code will have on middle class and working families and the overall economy.
###
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/aef389cf-b57d-4643-b15a-b4cf15e09260
Sara Durr The U.S. Conference of Mayors 202-215-1811 [email protected]
