ALBANY — For about 4.4 million middle-class New Yorkers, the deal crafted by Gov. Andrew Cuomo and passed by the Legislature on Wednesday will mean an income-tax cut of $300 to $400 a year.
Nearly 80 percent of small businesses in the Metropolitan Transportation Authority region downstate will no longer have to pay a payroll tax — saving them at least $250 million a year.
For upstate communities hit by tropical storms Irene and Lee, the state is doling out $50 million in grants — up to $20,000 for each affected business. Inner-city job programs for youth are getting $87 million.
All are the results of a $2.6 billion deal crafted by Cuomo to continue higher taxes on the rich, but at the same time spread plenty of holiday cheer to constituents around the state, lawmakers and political experts said. He initially pledged to let an income-tax surcharge on the rich expire at year’s end…
The achievements of the one-day session are “a winning message for the governor if he decides to run for higher office,” said Sen. Greg Ball, R-Patterson, Putnam County, “and it’s certainly, on an individual basis, a winning message for our conference.” (READ MORE).