AUDIO & VIDEO

ALBANY, NY – Senator Steve Rhoads, Senate Republican Leader Rob Ortt, Senator George Borrello, Senator Jake Ashby and Senator Bill Weber along with Members of the Senate Republican Conference have proposed a “Keep What You Have Earned” legislative package that, if passed, would deliver real tax relief to all New Yorkers.

One of the key proposals, S.9110 , The Taxpayer Rescue Act, introduced by Senator Steve Rhoads, would deliver $37 billion in state income tax relief to New Yorkers, the largest middle-class tax cut in New York State history.  Over a ten year period, the proposal would eliminate state personal income tax on the first $50,000 of income for single filers and the first $100,000 for joint filers. New Yorkers that file jointly would see an estimated savings of up to $6,000 once fully phased in. This applies to all New Yorkers, not just those falling at or below a certain threshold.
 

“New York has the highest personal income tax burden in the nation, and Albany’s lack of fiscal discipline, over-regulation, and poor policy choices have made the American Dream unaffordable for families across our state. Just the increase in state spending since 2019 has eclipsed all the revenue collected from personal income taxes, and the result is predictable: New Yorkers are leaving in record numbers, fleeing to states like Texas and Florida for lower taxes and more opportunity. One-time gimmicks like $200-$400 ‘inflation rebate checks’ do nothing to fix the problem. Our Keep What You’ve Earned legislative package flips the script. My bill delivers the largest personal income tax cut in New York history, fully exempting the first $50,000 for single filers, $75,000 for heads of household, and $100,000 for families. That’s real relief for every New Yorker, putting almost $5,000 back into the pockets of working families every year. It’s simple, fair, and long overdue. This is about putting residents back in the driver’s seat, restoring fiscal discipline to runaway state spending, and giving families the affordability and opportunity they deserve to live, work, and build a future right here in New York,” said Senator Steve Rhoads, SD 5th.

“The average New York family is barely getting by, and that’s the main reason so many people have been fleeing this state. We lead the nation in outmigration and taxes, and that’s nothing to be proud of. Instead of ignoring these important issues and increasing taxes and state spending, the Senate Republican conference is offering a realistic approach to save New York and make life more affordable,” said Senate Republican Leader Rob Ortt.

Keep What You’ve Earned Legislative Package includes: 

S.9110 (Rhoads) - “The Taxpayer Rescue Plan” is aimed at providing much needed tax relief to hardworking New Yorkers. Eliminate state personal income tax on first $50,000 for single filers and $100,000 for married filing jointly. Lower the tax rate to 4% for single filers up to $250,000 and $500,000 for married filing jointly.

This proposal would provide a personal income tax cut for all New Yorkers. Any single filer making $50,000 or less and couples making $100,000 or less would no longer pay any state income tax. 

The proposal provides $37 billion in tax relief to New York residents over its 10-year implementation without having to cut funding from vital state programs as its cost would be absorbed through natural growth of the economy. 

New York State has the highest individual tax burden in the nation.

S.1296 (Borrello) - Establishes an annual spending growth cap on the State Budget that limits the growth of state operating funds spending.

S.1308 (Canzoneri-Fitzpatrick) - Requires a two-thirds vote from each house of the State Legislature to impose or extend taxes a two-thirds vote from local legislative bodies to impose or extend local taxes, and a two-thirds vote from local legislative bodies requesting an imposition or extension of taxes by the state legislature.

S.1487 (O’Mara) - Reduces the amount small businesses and farms must pay in taxes by increasing the corporate tax threshold from $390,000 to $500,000 and lowering the rate to 2.5%. Expands the small business exemption to all PIT businesses regardless of whether they have employees, increases the threshold to $500,000, increases the exemption to 15%, and increases the exemption to 20% for farmers.

S.3914 (Martins) – No state income tax on overtime.

S.5519 (Ashby) - Reduce the property tax burden on homeowners by providing for a ten-year state takeover of the local share of Medicaid for local governments subject to the two percent property tax cap.

S.8489 (Weber) – Freezes real property taxes for three years to provide relief to New York homeowners.

S.587 (Martins) – No state income tax on tips.

This package is part of the Senate Republican Conference’s broader 2026 legislative agenda entitled “Save New York,” a plan to improve affordability, enhance public safety, and build a stronger New York for today and future generations.

New Yorkers face some of the highest costs of living in the country. By removing income taxes on the first dollars earned, this bill will help families better afford housing, childcare, and groceries, save for emergencies and retirement, and build their futures here in New York.