The personal income tax surcharge is dead. It died at the end of March, when the Legislature approved a new state budget that did not extend it; a position supported by Senate Republicans and by Governor Cuomo.
I know I speak for my conference, for our constituents and for millions of taxpayers in this state who believe that cutting taxes to help businesses create jobs and help families make ends meet is the real moral imperative. Senate Republicans will not support any renewed efforts by the Assembly Democrats to extend the PIT surcharge.
I don’t believe Washington intended the extension of federal tax cuts to be a source of revenue sharing for the states. It was intended to cut people’s taxes and cut business taxes and create jobs. I think extending the PIT surcharge would be counterproductive for individuals who want to invest in their community and businesses looking to grow and create jobs.