Quantcast

Gotham Gazette

The Place for New York Policy and politics

Citizens Union

Eye Opener

Today's Lead: Cuomo Unveils $2 Billion In Tax Cuts

by Mike Muller, Jan 07, 2014
 

eyeopenerbw2

Gov. Cuomo unveiled his $2 billion tax cut plan yesterday as Mayor de Blasio reiterated his call for a tax on the wealthy at nearly the exact same time. Cuomo's plan would freeze upstate property tax increases for two years in municipalities that streamline and consolidate. Afterwards, an income-based property tax circuit breaker would be phased in. New York has some of the highest property taxes in the nation. In addition, New York City renters earning up to $100,000 would receive an income tax rebate. He would also reduce the corporate tax rate to 6.5 percent from 7.1 percent, give a 20 percent property-tax credit to manufacturers, and eliminate the corporate income tax for upstate manufacturers. This would all be paid for with a $2 billion surplus and some belt tightening. In a move that could set the mayor off balance, the governor will reportedly propose funding full-day pre-kindergarten statewide. But de Blasio said that he supports a tax hike on the wealthy regardless, saying the funds could be used elsewhere.

NEW IN THE GOTHAM GAZETTE —

Mayor De Blasio Promises Independent Police IG
by Chester Soria. READ MORE

While Governor Calls For Tax Relief, De Blasio Pushes For Pre-K Tax by David Howard King. READ MORE

De Blasio Appoints Advocates For Albany, DC Policy Agenda: By Chester Soria. READ MORE

Other Stories We're Following

City Sexual Assault Lab Work Slows (Wall Street Journal)

Polar Vortex: Temperatures Fall Far, Fast (NY Times)

Metro-North President Stepping Down (NY Times)

De Blasio Has Refinancing Ties To Dem Boss Key To Viverito Bid (NY Post)

Cuomo: Scandals In Albany Could Harm Legislature (Associated Press)

Contenders For Council Speaker Boast Extensive Outside Income (Politicker)

Mark-Viverito Coalition Meets to Solidify Bloc Before Vote (Politicker)

Mark-Viverito Admits Failing To Disclose Rental Income (Daily News)

Mayor Names Top Lobbyists, Other Aides (Crain's)

Cuomo's Semi-Liberalism (Capital)

New York’s Puzzling Medical Marijuana Plan (Wall Street Journal)

Medical Marijuana Boosters Not Cheering NY Law (WNYC)

Shoddy Train Cars Transporting Fuel Could Cause 'Deadly Explosion' (Daily News)

Editorial: Garodnick Is The Better Choice For Speaker (NY Times)


Editor's Choice


Gotham Gazette: With a Smirk, Bharara Diagnoses New York Corruption Problem With a Smirk, Bharara Diagnoses New York Corruption Problem Gotham Gazette: Public Conversation on New Veterans Department Begins Public Conversation on New Veterans Department Begins Gotham Gazette: The Evolving Definition of Transparency The Evolving Definition of Transparency

Comments
Comment(s)

The comments section is provided as a free service to our readers. Gotham Gazette's editors reserve the right to delete any comments. Some reasons why comments might get deleted: inappropriate or offensive content, off-topic remarks or spam.

Last Updated (Jan 07, 2014)