With less than two weeks to go before the start of New York City’s 2012 fiscal year, Mayor Bloomberg insists he must eliminate 6,100 teaching positions and close 20 fire companies to balance the next city budget. Read More
Tag: Taxes and Spending
A bid to gut Cuomo’s tax cap The passage of a 2 percent cap on local property-tax growth in New York should have been the crowning achievement of Gov. Cuomo’s first legislative session -- complementing an austere budget to set a more fiscally responsible tone for the Empire State. Read More
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
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
New York State has a new law capping annual increases in local government and school district property taxes. Effective in local fiscal years starting on or after Jan. 1, 2012, the law limits the annual growth of property taxes levied by local governments and school districts to 2 percent or the rate of inflation, whichever is less. 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