Tuesday, 21 August, 2018

Cuomo proposes new taxes, tax restructuring in budget

Andrew Cummings | 17 January, 2018, 02:17

Cuomo explained it this way: Say you paid $5 to the state in income taxes for every $100 you earned previous year.

The speech comes almost two weeks after his State of the State address.

In the tax-overhaul legislation that President Donald Trump signed last month, the Republican-controlled Congress cut income-tax rates on businesses and individuals across the board.

The governor is not expected to talk in-depth about a proposed congestion pricing plan for the East River bridges.

New Jersey, which has its own medical marijuana program, also is considering legalizing the drug.

NY1 will carry the governor's budget address live starting at 1 p.m., along with analysis by political anchor Errol Louis. From Lewiston to Long Island, school tax eats up by far the biggest chunk of the now-limited SALT deduction.

Some lawmakers said Cuomo, angling to keep his name in the list of potential 2020 White House challengers, is intentionally overstating the size of the fiscal problems facing NY as a way to ride to a political victory when the budget is passed later this spring.

List: Closings and delays due to winter weather
However after school activities may take place as planned, depending upon weather conditions, the release stated. This includes all scheduled athletic and fine arts events before, during and after school hours.

Saturday Night Live reveals Bill Murray as their Steve Bannon
But I'm different than Donald Trump because I'm actually a billionaire. There's only one job more powerful than being president.

Wrong woman killed in murder-for-hire plot over alleged love triangle
Ishnar Marie Lopez, Alexis Ramos and Glorianmarie Quinones Montes are being held in the Osceola County Jail on murder charges. That woman, who was never harmed, and Zengotita-Torres, who was married and the mother of a 14-year-old boy, were co-workers.

"They weren't expecting the tax cut; they got the tax cut", Cuomo said. Cuomo says 70 percent will go to the poorest districts, the highest ever.

Cuomo is proposing a $769 million increase for school aid, about half of the increase schools received past year.

"We're doing everything we can to thwart the effects of the federal plan", Cuomo said.

Assemb. Christine Pellegrino (D-West Islip) said she was "encouraged" by Cuomo's plan.

"Adult use of marijuana can produce revenue for the state that can rebuild the MTA and our roads and bridges throughout the state", a source close to Giambra told the News.

Overall, the state's budget will reach $168 billion, up from an estimated spending plan this year of $164 billion. And it fails to make any significant changes in the way the state distributes school aid to ensure the neediest school districts get the funding they need. This is less than the 4.2-percent increase originally anticipated. Foundation aid is propose to increase by $338 million. "I don't have a problem with our looking at it", he said.

To help fill the $4.4 billion budget gap, Cuomo wants to defer large corporate tax credits, and charge a windfall profit fee for not-for-profit health care companies previously funded by Medicaid. This would mitigate the impact of the federal tax plan on high-income earners, he said.

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