Local Lawmakers React To Cuomo's Budget Plan

NY Governor Tackles Student Loan Debt

Even before the speech ended, Mr. Cuomo's call for a payroll tax - and his heated assessment of the direness of the situation - was drawing criticism.

This week, he plans to present his congestion pricing proposal: the long-awaited report by the "Fix NYC" panel Cuomo convened to advise the state on proposals to create a dedicated funding stream to mass transit and reduce traffic on city streets. The state would need support from other states in the Northeast to close it, the governor said.

Errigo said drastic spending cuts and are needed to make NY affordable "for families and businesses alike".

Tedisco concluded by pointing out that Excelsior is New York's motto. "Those steps will not help grow our economy and will only have further negative effects that will make NY state even less competitive".

Ending an energy services sale tax exemption and expanding a number of tax enforcement measures, such as a new effort to ensure all of New York's cigar taxes are collected. "They not only want a better quality of life for themselves, they want to ensure that NY is a place where jobs and opportunities are within reach for their children and grandchildren".

There are certainly encouraging elements of the budget proposal: spending stays within the 2 percent cap; direct-care workers are provided a living wage; middle class tax cuts are preserved; and we sustain investment in the Environmental Protection Fund.

"They weren't expecting it", Cuomo said.

Relieving localities of the growth in Medicaid programs to help counties stay within property tax caps. "The more money people make, the more they pay to serve the government where they live". The financial plan also includes $175 million in new capital funding for the MTA. "The state of NY took $456 million of the MTA's budget".

Cuomo dedicated the beginning and end of his speech to laying out New York's response to the new federal tax law that limits the state and local property and income tax deduction to $10,000, which can be damaging for high-tax states like NY.

One new idea for revenue is a 2 cents-per-milligram surcharge for the active opioid ingredient in prescription drugs, a root cause of the heroin epidemic that has seized the state and nation. While personal income tax collections were strong in December, the future is clouded with uncertainty.

The governor said the state will provide $254 million in operating aid to fully fund its half of the cost using $194 million in previously unallocated monetary settlements and the accelerated transfer of Payroll Mobility Tax revenue to the MTA by eliminating the need for the $60 million annual appropriation.

The budget plan assumes that certain federal health care programs will continue to be funded, including the Children's Health Insurance Program, which federal lawmakers have yet to reauthorize. Last year, the budget was 10 days late.

"New York state is facing a possible $4 billion budget deficit, and no matter how the governor or anyone else wants to spin it, it is due to our government's excessive spending problem", Butler stated in the release. The state's existing law requires online marketplaces to collect the tax on sales to NY residents if the seller is based in NY.

One way to come at the problem, and keep a progressive tax system in NY, would be to set a base payroll tax and then have an income tax for earnings over a certain amount, Deutsch says. "Washington hit a button and launched an economic missile and it says "New York" and it's heading our way".

Despite the steady drumbeat of attacks out of Washington on the Affordable Care Act and other major government health care programs, Governor Cuomo's State of the State health care agenda was surprisingly sparse. Corrupted and underperforming economic development programs, which cost taxpayers billions, remain untouched. Families and businesses across NY should be wary of the term "revenue raisers" - which are unlikely to help their bottom line. Under the new system, that $5 would be paid by your employer. The true impact on employees - who may be forced to take a salary cut - and businesses may not be known for years.

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