Issues: Taxes

Cuomo Considers Changing N.Y. Tax Code as Economy Struggles

Nov. 30 (Bloomberg) -- Governor Andrew Cuomo is considering restructuring New York's tax code as he prepares a budget that must close a deficit as large as $3.5 billion after a temporary surcharge on those earning at least $200,000 expires Dec. 31.

Cuomo has said he opposes the state's so-called millionaire's tax. With the levy set to expire at year's end, he's now discussing a broader rethinking.

"What I'm looking at is what do you do with the tax code and how you use the tax code to stimulate jobs," the 53-year- old first-term Democrat said on WGDJ in Albany today.

December 8, 2011
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SENATOR FUSCHILLO STATEMENT ON PASSAGE OF TAX CUT, ECONOMIC DEVELOPMENT, & INFRASTRUCTURE IMPROVEMENT PLAN

“I am pleased that the Legislature and the Governor worked together in a bipartisan fashion to address the right priorities needed to help our economy grow; cutting taxes, creating jobs, and upgrading our infrastructure. In stark contrast to Washington, which is plagued by partisan gridlock, New York State is addressing the critical issues we face and delivering the results that residents expect and deserve.

Working together, we delivered $690 million in personal income tax relief for over 4.4 million taxpayers, allowing them to keep more of their hard-earned money. Middle-class taxpayers will see the lowest tax rates in 50 years and no New York State resident will see an increase in the income tax rate they are currently paying.

December 8, 2011
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Senator Grisanti Speaks About Middle Class Tax Cuts and Job Creation

About The Middle Class Tax Cut and Job Creation Plan

In stark contrast to the gridlock in Washington D.C., the Senate Republican Majority has worked together with Governor Andrew Cuomo to accomplish major changes and positive reforms this year. The new Middle Class Tax Cut and Job Creation Plan will build on these successes by cutting taxes for hardworking middle class families, and helping to create new private sector jobs.

Click here to read an overview and fact sheet about The Middle Class Tax Cut and Job Creation Plan:

December 8, 2011
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Senate Passes $3.3 Billion Tax Cut and Job Creation Plan

Posted by Majority Press on Wednesday, December 7th, 2011   

December 8, 2011
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Senator Marcellino Comments on the Partial Repeal of The MTA Payroll Tax

Good News!

As a result of a landmark, bipartisan agreement between the Legislature and the Governor, 78.2 percent of all employers, will see a total elimination of the job killing MTA payroll and many others will receive a reduction.

December 8, 2011
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State Senate Approves Plan For Middle Class Tax Break, Millionaire Tax Hike

NY1 wrote about the recent Albany passing of the change in the state's tax code, which will essentially up the taxes for the wealthy in New York and give breaks to millions of other residents. Senator Gianaris supports this change, hoping that during these difficult economic times, this tax break will benefit middle class families in New York.

Albany lawmakers on Wednesday passed a major overhaul of the state's tax code that will mean higher taxes for the wealthiest New Yorkers and a tax break for millions of residents, pending the approval of the State Assembly.

[...]

December 8, 2011
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Oppenheimer Endorses Governor's Job Creation Package Bringing MTA Payroll Tax Relief and Greater State Role in Flood Mitigation

State Senator Suzi Oppenheimer (D-Mamaroneck) today applauded Governor Cuomo’s comprehensive Job Creation package, which includes significant reductions in the MTA Payroll Tax and state flood relief assistance for individuals, small businesses, and local governments hard hit by recent flood disasters.

Senator Oppenheimer stated, “The MTA Payroll Tax needs to be eliminated for suburban counties. The $250 million cut in the payroll tax, which is targeted to small businesses, self-employed individuals and private and parochial schools, will be of special benefit to Westchester.”

December 8, 2011
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SENATE PASSES $3.3 BILLION TAX CUT & JOB CREATION PLAN

Bill Cuts Taxes for 4.4 Million New Yorkers; Repeals MTA Payroll Tax for Most Businesses; Reduces Taxes on Manufacturers; Invests in Job Creation & Retention

(12/07/11) - The New York State Senate today passed the Middle Class Tax Cut and Job Creation Plan that will reduce taxes for millions of hardworking, middle-class taxpayers to their lowest levels in more than half a century. In addition, the comprehensive plan will help strengthen our economy and create new jobs by eliminating the job-killing MTA payroll tax for more than 78 percent of the small employers that pay the tax. The plan will provide a total of more than $3.3 billion in tax relief to individuals and businesses.

December 8, 2011
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SQUADRON TO GOVERNOR: INVEST IN BQE REHAB, CITY TECH, ENERGY EFFICIENCY

Following Bill's Passage, Squadron Asks Governor to Invest New York Works Infrastructure Fund in Brooklyn, Lower Manhattan

Squadron Applauds Passage of Programs He’s Long Championed: Summer Youth Employment, Career Pathways

ALBANY – Following the state legislature’s passage of legislation aimed at creating jobs and growing New York’s economy, State Senator Daniel Squadron asked Governor Cuomo to invest part of the New York Works Infrastructure Fund in key projects in the 25th Senate District: the rehabilitation of the Brooklyn Queens-Expressway (BQE), an incentive program for Lower Manhattan businesses to increase energy efficiency, and a new academic center at New York City College of Technology (City Tech).

December 8, 2011
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Senate passes $3.3 billion tax cut and job creation plan

The New York State Senate has passed the Middle Class Tax Cut and Job Creation Plan that will reduce taxes for millions of hardworking, middle-class taxpayers to their lowest levels in more than half a century. In addition, the comprehensive plan will help strengthen our economy and create new jobs by eliminating the job-killing MTA payroll tax for more than 78 percent of the small employers that pay the tax. The plan will provide a total of more than $3.3 billion in tax relief to individuals and businesses.

December 8, 2011
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Senator Fuschillo Votes "Yes" on Tax Cut & Economic Development Package

Senator Fuschillo votes "yes" on legislation to cut taxes, create jobs, and upgrade our infrastructure while contrasting New York State's bipartisan cooperation with Washington's partisan gridlock. The actions taken by the State Legislature will:

* Deliver $690 million in personal income tax relief for over 4.4 million taxpayers Click here to read more.

* Eliminate the MTA payroll tax for nearly 80 percent of the businesses currently paying it

December 8, 2011
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Senator Rivera Issues Statement Following Governor Cuomo's Announcement to Reform New York's Tax System

Bronx, NY - Senator Gustavo Rivera (D, WF-Bronx) issued the following statement in response to Governor Cuomo’s announcement that an agreement has been reached that will create jobs and reform New York’s tax system:

December 7, 2011
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Senator Parker Applauds the Governor for Protecting Middle Class New Yorkers

(Albany, NY)  Today Senator Parker (D-21) stated that the Governor has helped pass much needed changes to the State’s tax code to will help middle-class New Yorkers.  Under the Governor’s restructuring, 4.4 million taxpayers will pay less than they do under the old rate.  “This is what New York needs to begin our return to economic stability,” stated Parker.

December 7, 2011
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Senate Passes $3.3 Billion Tax Cut and Job Creation Plan

The New York State Senate today passed the Middle Class Tax Cut and Job Creation Plan that will reduce taxes for millions of hardworking, middle-class taxpayers to their lowest levels in more than half a century.  In addition, the comprehensive plan will help strengthen our economy and create new jobs by eliminating the job-killing MTA payroll tax for more than 78 percent of the small employers that pay the tax.  The plan will provide a total of more than $3.3 billion in tax relief to individuals and businesses.

December 7, 2011
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