A major component of new legislation passed by lawmakers last week would be to cut taxes for 4.4 million New Yorkers by restructuring the state's tax brackets. Two bills (S.50001/A.40001 and S.50002/A.40002) were created and proposed by Gov. Andre Read More
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Term | millionaire tax |
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Dates | Between April 2011 and December 2011 |
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Forget all the spin about “reform,” “fairness” and “job creation” emanating from Albany during last week’s lightning-fast special session of the New York state Legislature. The deal ultimately was all about spending. Read More
This week’s hurriedly enacted deal between Governor Cuomo and the Legislature means state income taxes will now return to the pre-2009 level for over 100,000 New Yorkers who have been subject to a temporary “millionaire tax,” even though they earn much less than $1 million. Read More
Just a few weeks ago, Gov. Andrew Cuomo was trying to get the “Occupy Albany” tent people arrested. This week, he hasn’t just caved to their main demand—he’s also begun to sound more like them. Read More
On Dec. 6, 2011, Gov. Cuomo and legislative leaders announced a deal to extend New York's biggest income tax increase in 50 years, targeting earners of $1 million and more for what will be the third highest income tax rate imposed by any major state. Read More
Gov. Andrew M. Cuomo and legislative leaders announced on Tuesday that they had reached an agreement to overhaul New York State’s income tax, creating a higher tax bracket for the highest-income residents and reducing the tax rate for millions of m Read More
E.J. McMahon of the Empire Center on a segment of NY1's "Inside City Hall" last night. E.J. began by informing moderator Errol Lewis that Governor Cuomo's with the Legislature involves a significant tax increase, not a tax cut. Read More
Behind the scenes talks in Albany could result in a revamped state tax code, apparently increasing taxes on the wealthy next year. Governor Cuomo, who is asking for the changes, is also proposing a gambling expansion and other initiatives. Cuomo p Read More
Governor Andrew Cuomo and legislative leaders have just announced a deal on a major increase in the state income tax rates compared to what is scheduled under current law — i.e., the official breaking of the Cuomo promise not to raise taxes. Read More
Few Albany policy fights in recent memory have generated more heat and less light than the dispute over whether to extend higher state income-tax rates on high-income households. Read More
A 21st Century Rip Van Winkle, awakening after a two-year catnap, might assume based on this morning’s newspaper headlines that David Paterson had been elected governor in 2010. But after rubbing his eyes and donning his reading glasses, old Rip would discover that the governor now getting ready to execute an 180-degree turn on taxes — just as Paterson did in 2009 — is none other than Attorney General Andrew Cuomo. Read More
Governor Cuomo’s tax-hike spin machine is in overdrive. The governor just issued an “op-ed” on tax reform that claims the state’s current income tax code “is just not fair,” implying strongly that filers with low-incomes pay taxes at the same rate as millionaires. Read More