Cuomo’s big stealth tax hike by E.J. McMahon |  | NY Torch

Governor Cuomo's budget proposal includes more than $1.5 billion in automatic income tax hikes, affecting many of the same people who have the most to lose from the new federal limits on state and local tax (SALT) deductions. [Read_more]

The loose ends in Cuomo’s budget by E.J. McMahon |  | NY Torch

For the time being, at least, Governor Cuomo's 2018-19 Executive Budget left a pile of loose ends in the state tax code.

With one notable exception, the initial version of the budget doesn't address any of the myriad corporate and personal income tax (PIT) conformance issues raised by passage of the new federal tax law. Instead, those issues are to be explored in a study released by the Department of Taxation and Finance, for consideration during the 30-day amendment period. [Read_more]

The Essential Plan survives by Bill Hammond |  | NY Torch

Governor Cuomo’s budget makes no major change in the Essential Plan—a low-cost state-sponsored health plan—despite the loss of almost $1 billion in federal aid. [Read_more]

Senate set to OK union trap law by Kenneth Girardin |  | NY Torch

A bill designed to make it harder for New York government workers to extricate themselves from labor union membership rolls is poised to move out of a key Senate committee next week. [Read_more]

Albany matchup: Medicaid vs. schools by Bill Hammond |  | NY Torch

With the state facing its grimmest budget outlook in years, the legislative session shows signs of becoming a tug-of-war between public schools and health care—the two biggest recipients of state spending and, not coincidentally, the two heaviest-hitting lobbying forces Albany. [Read_more]

The Senate GOP’s mixed bag on taxes by E.J. McMahon |  | NY Torch

State Senate Republicans today issued a "Blueprint for a Stronger New York" that combines a few solid big-picture tax reduction priorities with more of the wasteful "tax relief" gimmickry that's become a standard feature of the Senate GOP tax policy agenda in recent years. [Read_more]

A tamper-prone drug ‘cap’ by Bill Hammond |  | NY Torch

An outside analysis of New York’s spending on prescription drugs for Medicaid recipients raises questions about how the Cuomo administration is enforcing a newly enacted cap on those costs. [Read_more]

Hunting for a new SALT shaker by E.J. McMahon |  | NY Torch

Now that the feds have limited the state and local tax (SALT) deduction for individuals, should New York's no-longer-fully-deductible personal income tax (PIT) be converted into an employer payroll tax? [Read_more]

The double-edged sword of prepayment by E.J. McMahon |  | NY Torch

New York homeowners lining up to prepay property taxes in order to reduce their federal income taxes will also be in line for a temporary added cut in their 2017 state personal income tax. As a result, however, the prepayment phenomenon will also at least slightly erode the state government's already sagging income tax receipts in the current fiscal year—while making many of the same homeowners liable for at least a small tax hike in 2018.The rush to prepay local property taxes before the end of 2017, encouraged by Governor Cuomo in reaction to federal reform, will have some unintended consequences. [Read_more]

Cuomo’s Yuletide veto gifts by E.J. McMahon |  | NY Torch

Governor Andrew Cuomo is ending the year on a strong pro-taxpayer note, vetoing union-backed legislation that would have blocked the Nassau County Interim Finance Authority from imposing pay freezes to balance the county budget. [Read_more]
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