Governor Andrew M. Cuomo, Senate Majority Leader Dean Skelos and Assembly Speaker Sheldon Silver today announced that they have reached a proposed three-way agreement on legislative and executive proposals to create jobs and cut taxes for middle class New Yorkers. The agreement includes support for a comprehensive New York Works Agenda that will create thousands of jobs with new investments in New York's infrastructure, passing a fair tax reform plan that achieves the first major restructuring of the tax code in decades resulting in a tax cut for 4.4 million middle class New Yorkers taxpayers, approving $50 million in additional relief for areas devastated by recent floods, and reducing the MTA payroll tax to provide relief for small businesses.
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.
Senator Steve Saland (R,I,C – Poughkeepsie) today announced his legislation to provide a five year extension of the existing indemnity provision included in the Greenway Act of 1991 (S.7106) has passed the Senate. This legislation extends the sunset date of December 31, 2012 for five additional years, until December 31, 2017.