Chin Applauds Quinn, Wants Millionaires Tax
June 29th, 2011

The City Council voted to pass Mayor Bloomberg’s $66 billion budget earlier today and council members seem pretty happy with their votes. Councilman Charles Barron was the only dissenting vote.

A release from Council member Margaret Chin notes that she “thanked Speaker Quinn and Finance Chair Recchia for their leadership and pairing down the massive cuts proposed in the Executive budget.” A last minute deal averted the layoff of 4,000 teachers.

But it also notes that Chin supported a resolution sponsored by Council members Jumaane Williams and Brad Lander which calls on the New York State Legislature to pass a law extending the millionaires tax.

The budget season may be over but the millionaires tax does not expire until the end of the year. Tonight the City Council has taken the first step in signaling to the State our need for real revenue raising options in the year to come. We want to ensure that this years cuts are the bottom line. It is now time to look at ways to raise money and to do that we need a progressive income tax in New York City

Here is her full statement:

Council member Margaret Chin on NYC Final Budget Vote

New York, NYToday, the New York City Council convened to vote on the final budget for Fiscal year 2012. The budget was approved the City Council.

Council member Chin thanked Speaker Quinn and Finance Chair Recchia for their leadership and in paring down the massive cuts proposed by in the Executive budget. Council member Chin acknowledged both Speaker Quinn and Finance Chair Recchia for consistently standing up for the working people in New York City.

At the Stated meeting, Council member Chin lent her support to a resolution, sponsored by Council members Jumaane Williams and Brad Lander, calling upon the New York State Legislature to pass, and the Governor to sign, A. 7802 and S.5453, legislation that would amend the Tax Law, in relation to the modification and extension of a tax rate on income in excess of one million dollars and to amend the State Finance Law in relation to the creation of an educational assistance fund, also known as the Millionaires Tax or Progressive Income Tax (PIT).

Council member Chin said, The budget season may be over but the millionaires tax does not expire until the end of the year. Tonight the City Council has taken the first step in signaling to the State our need for real revenue raising options in the year to come. We want to ensure that this years cuts are the bottom line. It is now time to look at ways to raise money and to do that we need a progressive income tax in New York City

By on June 29, 2011, 2:07 pm
In category: City Hall,Economy | 2 Comments »

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2 Responses to “Chin Applauds Quinn, Wants Millionaires Tax”

  1. vina vipava Says:
    June 22nd, 2012 at 9:35 am

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  2. Marlin Maiten Says:
    July 23rd, 2012 at 4:44 pm

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