Issues: Taxes

Gallivan Announces Legislation To Cap Income Taxes, Refund Excess Funds Back To Taxpayers

BILL SEEKS TO CONTROL SPENDING AS COMPANION PIECE TO NEW TAX AGREEMENT

December 9, 2011
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Historic Middle Class Tax Cut and Job Creation Plan, Cuts Taxes, Reduces Job Killing MTA Payroll Tax.

 

New York State Senator Kenneth P. LaValle (R, C – Port Jefferson) said that the Senate, today, passed historic tax and job creation legislation  that will spur the economy and provide relief to overburdened taxpayers.

The Middle Class Tax Cut and Job Creation Plan will cut taxes for millions of New Yorkers, create thousands of new private sector jobs and begin to turn our economy around.

Under this plan:

December 9, 2011
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State Senate passes $3.3 billion tax cut for New Yorkers

No taxpayers will see their personal income taxes go up
Overwhelming majority of taxpayers to receive a tax break
91% of taxpayers affected by the PIT surcharge to receive tax cut

 

To figure out your reduced tax rate as a result of the Middle Class Tax Cut and Job Creation Plan, click here.

December 9, 2011
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Behind Rapid Deal on Taxes, Stealth Maneuvering by Cuomo

By THOMAS KAPLAN

ALBANY — Gov. Andrew M. Cuomo first notified the public that he wanted to revise New York’s income tax Sunday afternoon, with e-mail sent to the state’s newspapers, offering them an essay in which he mentioned “comprehensive reform of our tax code.”

Just two days later, the governor announced that he and legislative leaders had agreed on an overhaul of the income tax; that day, he summoned lawmakers back to Albany, and the next day, Wednesday, he invited them to a party before they had seen the measure or voted on it.

December 8, 2011
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Senator Krueger Speaks with WNYC's Brian Lehrer Regarding Gov. Cuomo's Tax Plan

Senator Liz Krueger, who represents Manhattan's 26th district in the New York State Senate, reacts to reports that Governor Cuomo will propose a higher tax rate for high income earners.

Listen Here

December 8, 2011
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Liz Krueger, 'Nixon Liberal', Worries that Cuomo's Tax Plan Just Tinkers With Real Problems

By Azi Paybarah

If Andrew Cuomo makes adjustments to the state tax code that shift more of the burden from poor people to rich people without necessarily generating any more overall revenue for the cash-strapped government, is it truly progressive?

State Senator Liz Krueger, a liberal Democrat from Manhattan who wrote her master's thesis on tax policy while at the University of Chicago, thinks not.

"The state needs the money," Krueger told me Friday. "I think it's imperative we not cut services for the neediest New Yorkers when demands are skyrocketing."

December 8, 2011
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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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