New York Governor Andrew Cuomo, in a conference call with California Governor Jerry Brown Friday, singled out two New York GOP Congressmen for criticism, after they voted for a budget measure that clears the way for a vote on the GOP plan to overhaul the tax system.
The state’s governor and senior senator teamed up to urge New York’s congressional delegation to oppose a provision in the federal tax overhaul plan that they say could be harmful to the state’s taxpayers and New York’s economy.
New York’s Democratic lawmakers are vowing to fight President Trump’s tax overhaul proposal, perhaps even in court. Meanwhile, a think tank’s analysis finds some middle class New Yorkers could actually save a small amount of money under the income tax portion of the plan.
The Trump administration recently announced the outline of a tax plan that calls for lowering the corporate tax rate and decreasing the number of personal income tax brackets. While details are few, analysts are already predicting potential impacts.
New York state lawmakers are facing a Friday budget deadline with a number of issues hanging over their heads. Among them are an extension of a millionaire’s tax, tuition aid for college students and justice reform. Meanwhile, Governor Andrew Cuomo has floated the idea of an “extender budget” that would maintain current funding levels. The Democrat says New York is facing uncertainty about what the state can expect from federal funding sources.
On Election Day next week, New Yorkers will decide three ballot questions. No. 3 is called the Smart Schools Bond Act of 2014, a measure from Governor Andrew Cuomo that would allow the state to borrow $2 billion to equip schools with computers, tablets, wireless internet and other technology. But on group think it's a bad idea. EJ McMahon, president of the Empire Center for Public Policy in Albany, says borrowing isn't the main objection. He says there appears to be no demand from educators.