For years, I have been demanding the need for a forensic audit of the MTA. Under intense public pressure, the Comptroller commenced a forensic audit in 2010. In the first of a series of reports to be issued by the Comptroller, he points to abuse, manipulation of the system, inflated salaries and pensions, and supervisors signing their own attendance records. Is anyone surprised? Given the history of fiscal mismanagement of the MTA, I’m willing to bet this first audit is the tip of the iceberg. And I’m not a betting man. Perhaps if the Comptroller unearths enough abuse, MTA will at long last be forced to clean up its act, stop wasting our tax dollars, and be forced to live without the payroll tax.
In Nassau County, Governor Signs Legislation to Cut Taxes For More Than 700,000 Small Businesses and Self-Employed New Yorkers
Governor Andrew M. Cuomo today traveled to West Hempstead, Nassau County, to sign a new law that will reduce the MTA payroll tax, providing relief for more than 290,000 small businesses and more than 410,000 self-employed New Yorkers. The tax reduction is part of the Governor's comprehensive plan, passed by the legislature last week, to create jobs and cut taxes for middle class New Yorkers, and revitalize the state's economy.
Middle class tax cuts that will reduce tax rates for millions of hardworking taxpayers and the two-percent property tax cap highlight new state laws that will go into effect on January 1, 2012.
The recently enacted tax cuts will reduce tax rates on middle class taxpayers to their lowest levels in more than 50 years (Chapter 55, L.2011). About 4.4 million middle class taxpayers will receive a total of $690 million in personal income tax relief.
In his delivery of the State of the State Address, Governor Cuomo managed to strike a balance which was both optimistic and realistic. With a new spirit of cooperation in Albany, unlike the dysfunction we have been witnessing in Washington, we were able to make state government work for the people once again, and made 2011 the most productive year in modern state history.
Repeal of MTA Payroll Tax on 80% of Small Business and the Elimination of State Sales Tax on Clothing and Shoes
Senator Steve Saland (R, I, C - Poughkeepsie) today announced self-employed taxpayers and businesses with an annual payroll under $1.25 million, will finally be relieved of the MTA payroll tax on April 1st. In 2009, employers were unjustly saddled with this onerous tax which Senator Saland vehemently opposed.