Senate GOP aims at utility tax by E.J. McMahon | | NY Torch

The biggest of the almost-new taxes in Governor Cuomo’s “no new taxes” budget is being targeted for elimination by state Senate Republicans. They were joined today by business and industry representatives in calling on Cuomo to remove the extension of the Section 18-A “assessment” from his budget proposal.

Cuomo revives Section 8 “discrimination” issue by E.J. McMahon | | NY Torch

Three years ago, a bill that would have forced landlords throughout New York State to accept recipients of federal Section 8 rent vouchers was vetoed by then-Governor David Paterson on the grounds that it would have placed an onerous regulatory burden on landlords and cost the state millions to enforce. However, in his State of the State message last week, Governor Andrew Cuomo indicated he’ll revive the idea as part of his own legislative program.

An early Christmas gift from taxpayers by E.J. McMahon | | NY Torch

New York State and Erie County officials today reportedly will join in announcing that the Buffalo Bills have signed a 10-year renewal of their stadium lease, and that team owners have agreed to pay a $400 million penalty if they move out of Buffalo before the lease expires.

Cliff consequences for New York by E.J. McMahon | | NY Torch

New York residents will pay almost $90 billion in added taxes over the next two years if the federal government plunges over its fiscal “cliff” with no changes to current law, according to a timely report issued last week by Comptroller Thomas DiNapoli. The scheduled tax changes outweigh the impact of scheduled “sequestration” cuts to federal spending, which would cost the state and local governments $5 billion over the next nine years, including a $600 million hit to the state budget in fiscal 2013.

Dow down = state revenues up? by E.J. McMahon | | NY Torch

The prices of some previously high-flying stocks such as Apple recently have been plummeting, and the stock market has just suffered “its worst week of declines in five months,” the Wall Street Journal reports. This is not good news for savers and investors — but it may be causing sighs of relief in some corners of the state Capitol.
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