If there’s one thing the Occupy Wall Street crowd agrees on, it’s that New York should expand its “millionaire tax” on high-income earners. Read More
Category: Commentary
New York state’s mid-year financial plan update was due on Oct. 31, and state agency heads were scheduled to present their budget requests at hearings last week. Read More
During his first six months in office, New York governor Andrew Cuomo pulled off something of a fiscal trifecta: closing a $10 billion state-budget gap without raising taxes, capping local-property-tax levies, and wringing concessions out of state-government labor unions. Read More
For all of Andrew Cuomo’s good intentions, Albany’s muck remains as deep as ever, with a projected 2010-11 state budget shortfall approaching $10 billion. But the fiscal quicksand needn’t swallow up the next Gov. Cuomo as it did the last one. 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
In the middle of its worst economic downturn since the 1930s, New York State has just enacted its biggest personal income-tax hike since 1961. 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
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