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Quinn's Budget Breakdown
April 1st, 2009

Since state officials have laid claim to increasing personal income taxes on the state’s highest earners, Council Speaker Christine Quinn appears to be backing off a similar proposal she floated for the city earlier this year.

Quinn, who released the council’s budget response today, said the council would review the state’s proposal to determine what impact it will have on city taxpayers.

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“Now, even for folks of higher income, we need to be mindful of piling on and not overtaxing,” said Quinn. “What we have to do now is take a look at what exactly the state did, what the income levels are, etc., and see what options that leaves us as it relates to a personal tax increase and other revenue options.”

When Quinn first released her proposal during her State of the City in February it was an alternative tax to Mayor Michael Bloomberg’s call to raise the sales tax. Most City Council members call a sales tax increase regressive, and leaders on the east side of City Hall would much rather see the city’s affluent fill part of the city’s $4 billion budget deficit for fiscal year 2010, which starts in July.

Quinn proposed to increase the personal income tax incrementally for those making more than $297,000 annually. For those making less than $45,000, she wants to do away with it.

Earlier this year, Bloomberg said he would not support an increase in the city’s personal income tax because (number one) he expected the state to increase its tax (which it is expected to do eventually) and (number two) it would spark an affluent individual flight from the city.

Quinn now seems to be more open to the first part of that argument.

Elsewhere, the council’s budget response does not seem to float any other landmark proposals. For the most part it says “the council will look forward to reviewing the administration’s proposals” and work out the differences.

The response does lay out some of the council’s typical budget battlegrounds, like libraries, classrooms, public housing, the capital budget and funding for kindergarten at the Administration for Children’s Services.

By on April 1, 2009, 4:24 pm
In category: Albany,Economy,Education,Electoral Politics,Gotham City,Governing,Law,nextNY,Public Finance | 1 Comment »

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One Response to “Quinn's Budget Breakdown”

  1. dresses Says:
    November 27th, 2012 at 3:32 pm

    I guess, it comes down to 59883 simple choice!

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