Albany, NY, Dec 08, 2011 — New York lawmakers piled on last night to approve an overhaul of the state's income tax rates. First, the Republican led Senate voted 55-0 for the measure. The Assembly followed with a 130-8 vote.
The measure was backed by Governor Andrew Cuomo. It will increases taxes on millionaires, but give 4.4 million middle-class residents a rare break worth $200 to $400 a year.
State Senate Republican Leader Dean Skelos says it's the first rate reduction for middle class earners in 50 years. But conservative critics say New York will continue to have one of the nation's highest tax rates, and New York City residents will pay the highest rate in the nation.
The deal required a change of mind for most of the lawmakers who passed it last night, and for Gov. Cuomo, who had promised to "freeze" taxes during his campaign last year. As they gathered for the vote yesterday, lawmakers were busy portraying the deal in the best possible light. Critics complained about the hasty, behind-closed-doors process. In Albany, Karen DeWitt reports. Go to full article
There is not an intelligent or productive way to close the current gap without generating revenue.
Albany, NY, Dec 07, 2011 — Governor Cuomo and legislative leaders have announced a deal they say will raise taxes on the rich, and slightly lower taxes for the middle class. In Albany, Karen DeWitt has this report. Go to full article
Albany, NY, Dec 06, 2011 — Governor Cuomo and legislative leaders have reached an agreement on tax code changes that includes a slightly lowered rate for the middle class, and higher taxes on millionaires. In Albany, Karen DeWitt has the details: Go to full article
Albany, NY, Nov 29, 2011 — Protesters at the Occupy Albany encampment say they will no longer provoke nightly arrests by the New York State police. But they say they'll continue to focus on state policy issues, like their opposition to the expiration of a tax on millionaires, set to expire at the end of the year. In Albany, Karen DeWitt reports. Go to full article
Cash revenues have been falling short of expectations ...And economic activity has been very volatile.
Albany, NY, Nov 15, 2011 — Governor Cuomo's budget office released some bad news yesterday. The state's budget gap is even bigger than expected, with a $350 million dollar shortfall for the current year and a $3.5 billion dollar gap next year. Go to full article
I think that we and the public can win that discussion.
Albany, NY, Nov 02, 2011 — The planned expiration of what's often called the "millionaire's tax" on December 31st...has become a major flashpoint for Occupy Albany protesters. But it's not just the protesters--a majority of New Yorkers don't want the tax to end. Now State Assembly Speaker Sheldon Silver--a longtime supporter of extending the tax--says he believes his side can "ultimately" prevail. Go to full article
Albany protestor Joe Lombardo. Photo: Karen DeWitt
Albany, NY, Oct 28, 2011 — Around 75 protesters from the Occupy movement chanted and demonstrated inside the State Capitol Thursday. They called Governor Cuomo "Governor 1 percent," and demanded he agree to extend an income tax surcharge on millionaires. Karen DeWitt was there. Go to full article
Albany, NY, Oct 18, 2011 — A group of unions and advocates for the poor have begun a new push to preserve New York's income tax surcharge on millionaires. But Governor Andrew Cuomo says he's still against taxing the rich, unless it's a federal tax change. In Albany, Karen DeWitt has these details: Go to full article