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.
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