As we depart 2011 and head into 2012, New York State continues to make real progress in reducing spending, cutting taxes and helping businesses create new jobs.
In fact, one big accomplishment – tax cuts for middle-class taxpayers -- will go into effect on January 1, 2012.
This new law will reduce tax rates on middle class taxpayers to their lowest levels in more than 50 years. About 4.4 million middle class taxpayers will receive a total of $690 million in personal income tax relief.
This new law, which is taking effect on New Year’s Day, reflects our ongoing effort to end gridlock and partisanship, and to make state government function again for hardworking taxpayers. It’s a good start, but there is much more work to be done. I look forward to working with Governor Cuomo in 2012 and continuing our efforts to move New York in a positive direction.
I wish you a wonderful holiday season and a Happy New Year to you and your loved ones.
