Gov. Andrew Cuomo is out on Long Island today where he is signing into law the official expiration of the MTA payroll tax, a tax cut that was part of the budget and jobs package passed last week.
The governor held the official bill signing in West Hempstead, in Nassau County, exactly the kind of suburban town that has been hit hardest by the tax, and where voter anger over it was at its most pitched, to the point where some Democrats have been arguing that it was the primary reason they lost the State Senate.
“Small businesses are New York’s growth engine and this tax reduction will help create jobs and get our state’s economy back on track without jeopardizing funding for the MTA,” Governor Cuomo said. “I thank the leadership as well as the members of the legislature for their dedication in seeing the MTA tax reduced and working to get our economy moving again.”
Senator Charles Schumer called Monday for the renewal of a federal tax credit set to expire Dec. 31st that can save New Yorkers as much as $1000 a year.
Nr. Schumer wrote a part of President Obama’s 2009 stimulus package that increased a break for mass transit commuters from $120 to $230 a month, the Read More
Charlie Rangel and Mike Huckabee have been sniping at each other over long distances over the last couple of weeks, after Rangel said that Jesus would have no trouble paying a higher tax rate (like the one that Democrats are calling for) and Huckabee lashing back that Rangel doesn’t really have much credibility on the tax question.
Governor Andrew Cuomo signed what he called the toughest property tax cap in the nation, as part of his vow to end New York’s reign as the “tax capital of the nation.”
That has put pressure on local governments who say they will be hard-pressed to raise revenue they need to fund the services they provide and keep staffing at their current levels.
Let it not be said that Cuomo’s office is completely inflexible when it comes to giving localities the discretion to tax residents.
Today, Cuomo’s office announced he signed into law a slew of bills extending a 1 percent increase in sales and “compensating use” taxes at the county level. (Most are renewals of increases to local taxes that have passed previously. Some, though, are new, like Herkimer County’s additional 1.25 percent.)
Marty Golden may have a labor problem on his hands, according to an unhappy political operative who had been working to get prevailing wage guarantees inserted into a tax break for developers.
The tax break, 421a, will not include a requirement that developers of any project over 80 units pay workers a prevailing wage — Read More
redistrictingSurvey Saystaxessame-sex marriage
New York voters will blame Republicans in the State Senate if, by the end of the legislative session, a tax cap, more disclosure rules for lawmakers, and same-sex marriage are not enacted. That’s according to a poll this morning by Siena College.
If independent redistricting is not passed, voters say they will mostly blame Republicans in the State Senate, but also, Democrats who control the Assembly.
The numbers give Governor Cuomo added leverage going into the final days of the legislative session, where, despite conceptual agreements on some of these issues, nothing has been officially approved and signed into law.
Here are some numbers:
Hours after the New York Times came out in opposition to Governor Cuomo’s property tax cap proposal, he appeared on WOR710, advocating for it.
The governor said the deal isn’t exactly linked to rent regulations, but that they’ll be passed, and re-evaluated, simultaneously.
“I didn’t want a temporary cap,” Cuomo told the show’s host. But, he conceded, “at one point should it be re-evaluated? Yes.”
Cuomo went to explain how this works.
“Should there be a point of re-evaluation, make sure we have it right? I think that is intelligent. We are proposing that period be the same period of time we re-evaluate the rent-regulations in the state of New York.”
From Assembly Speaker Sheldon Silver:
Provide a carryover provision of up to 1.5 percent from one year to the next of any amount in which the previous year’s levy was below that year’s limit;
Allow local governments and school districts to adjust the tax levy upward if there is physical or quantity growth in the property base;
Include a tax base growth factor to account for any increase in the full value of taxable real property; and
Exempt pension payments over two percent from the previous year and court orders and judgments that exceed five percent of the total levy from the previous year.
Praise from Partnership for New York City’s President, Kathryn Wylde:
“The property tax cap plan released today by the Assembly is very much in line with the plan developed by the Governor and adopted by the Senate, suggesting that there should be quick agreement on this key piece of the Governor’s fiscal responsibility agenda. The bill provides for a no nonsense cap with limited exceptions that are well within the framework of reform that the business community has been calling for.”
Update: Governor Cuomo, who has studiously avoided the national spot light – despite the speculation of his future plans – called the proposal “the best tax cap in the nation.”