You have to give Gov. Andrew M. Cuomo credit.
There is a new higher tax bracket for the highest- income residents but at the same time reduces the tax rate for millions of middle-class residents. You can see the Governor's announcement at my website. Dominiccarter.tv
The deal came together just 25 days before the expiration of the state’s so-called millionaires’ tax — actually a surcharge on all individuals earning over $200, 000 a year. The proposed tax overhaul would result in most residents’ being taxed next year at a lower rate than this year.
“While I am against higher taxes, and I believe our long-term economic future for this state is enhanced by in fact lowering taxes to make us more competitive, to deal with this emergency, short-term, we do need additional revenue,” Mr. Cuomo, a Democrat, said.
“If I were to close the entire gap by budget cuts, it would decimate essential services, doing real harm to the state’s economy and strangling local governments all across this state.”
The agreement would also seek to lower unemployment by financing job-creation programs. (for Inner City kids) It would allocate $50 million to help stricken areas repair flood damage, create an infrastructure fund to finance a new program of road and bridge construction and support job-training programs.
Bottom line. Would State Residents prefer to see services cut to the bone, or to see taxes go up slightly for the weathly.
Polling and Occupy Wall Street has already answered that that question.
Also interesting on this one, Republicans worked with Cuomo. There was Bi-partisan Support, which can help Cuomo with the White House in 2016,