Industry lawsuits filed against Governor Cuomo's $100 million opioid tax, summarized in today's Wall Street Journal, are raising fresh questions about the levy's fairness and unintended side effects.
The Empire Center today released its annual “Benchmarking New York” report, comparing and ranking government tax, spending and debt levels for hundreds of counties, towns, cities and villages throughout New York.
Compare the taxes, spending and debt of local governments across New York State.
New York State's so-called millionaire tax, temporarily raising the state's top income tax rate to 8.82 percent from the permanent law limit of 6.85 percent, is next scheduled to expire at the end of 2019. The added tax generates roughly $4.5 billion a year, about 9 percent of net personal income tax revenues, making New York more dependent than ever on the highest-earning one percent of its taxpayers.
The future of the tax has now emerged as an issue in the gubernatorial campaign.
Once upon a time, anyone who wanted to know what local government employees were paid had to pick the right meeting to go to and hope the board didn’t go into executive session, or file a Freedom of Information Act request and wait. Enter the Empire Center for Public Policy.
As the state legislative session comes to a close, we often focus on the things the Legislature should be doing.
Her tax plan is “completely unrealistic and excessive,” Mr. McMahon said, adding that it is “based on the assumption that businesses and individuals alike are simply oblivious to higher tax rates.”
A combination of decades of free-wheeling generosity by local school boards, pressure to increase teacher pay from politically powerful unions, and state laws and policies that make it impossible for districts to rein in spending has gotten New York to the point where it spends more per student and offers the highest teacher salaries of any other state in the country.