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Itís over with. Thereís not going to be a so-called millionaireís tax passed.

Assembly Dems float millionaire's tax; Senate GOP says no

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A proposal by Assembly Democrats to continue an income tax surcharge on millionaires is being praised by the teacher's union, but rejected by Senate Republicans.

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Karen DeWitt
NYS Capitol Correspondent

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New York State United Teachers President Dick Ianuzzi says record high rate for passage of school budgets this week proves that middle class New Yorkers are willing “roll up their sleeves” and pay more in taxes to fund schools, so the rich should do their share, too.

Assembly Speaker Sheldon Silver introduced a bill late Tuesday that would extend a temporary tax surcharge on New Yorkers making more than one million dollars a year, the surcharge is to expire on December 31st But Senate Leader Dean Skelos says the proposal is “dead”.

“It’s over with ,” said Skelos. “There’s not going to be a so-called millionaire’s tax passed.” Skelos says the state has a spending problem, not an under taxation problem.

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