Assembly Speaker Sheldon Silver says the state’s income tax brackets ultimately should be restructured, but not now.
The Manhattan legislator says the immediate goal is to increase revenue to help close a projected $13 billion budget deficit for the state’s upcoming fiscal year.
Silver’s majority in the Assembly has previously passed legislation to raise taxes on New Yorkers earning $1 million or more a year. He says that so-called “millionaire’s tax” is still before his Democratic conference, and he hasn’t brought any other proposal.
Neither Gov. David Paterson nor Senate Democratic Majority Leader Malcolm Smith has supported the tax hike.
(Source: NBC NY)
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2 Responses
Perhaps they should ask Lehman Brothers to pay more taxes????? Maybe they can tap into Mr. Madoff’s profits (a sure thing to get move revenue)???
New York, and most of the northeast in general, are in desperate need of long term revenue, and that requires private sector jobs. That means lowering business taxes and adopting a pro-business economic policy.
I GUES YOU COULD CALL THIS THE “ANTI-STIMULUS” PACKAGE THAT WILL CHOKE THE NEW YORK ECONOMY!