Governor Cuomo may seek to extend higher state income tax rates in top brackets under the guise of a tax reform or restructuring that might also involve a tax break for middle class, according to a report in today’s Wall Street Journal. Read More
Category: Blog
Governor Andrew Cuomo today finally got around to announcing most of the members of the “Tax Reform and Fairness Commission,” which he first promised to create a year ago as part of the legislative deal that temporarily extended the state’s income tax hike on million-dollar earners. Read More
In a news conference just before yesterday’s legislative adjournment, Governor Andrew Cuomo announced that he would grant the required “messages of necessity” to pave the way for a vote on amended versions of two New York City bills — one related to condo-coop tax abatements, and the other to a measure implementing an important technical change in actuarial assumptions for the New York City pension funds. Read More
It sounds like Governor Cuomo may be wavering on the optional defined-contribution (DC) retirement plan that was the single most innovative aspect of his Tier 6 pension reform proposal. Read More
Twenty-nine days past the legal deadline, the Cuomo Administration finally got around to posting the state’s required mid-year financial plan update on the Division of the Budget (DOB) website late yesterday afternoon. As expected, the report does not included an estimate of fiscal impacts from Superstorm Sandy. DOB says it is still working on those numbers. 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
Governor Andrew Cuomo says his proposal to allow up to three casinos in upstate New York will “create thousands of new jobs where they are needed most.” Now comes the small print: it turns out those jobs will be controlled mainly by organized labor, whose support the governor presumably is courting for a needed constitutional amendment to legalize casino gambling on a broader scale. Read More
Governor Andrew Cuomo’s propensity for creating advisory committees, commissions and task forces — more than two dozen in all — is the subject of an article in today’sWall Street Journal Read More