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NY Senate To Introduce Job Credit, Spending Cap

ALBANY, N.Y. (AP) — The Republican majority of New York’s Senate will introduce bills to provide a tax credit for hiring, a cap on state spending, and another that would require a two-thirds vote of the Legislature before a tax can be raised.

The spending cap would hold state spending to 2 percent of growth a year.

The job bill would provide a tax credit to employers who hire New Yorkers, with a larger credit for hiring the unemployed.

The taxation bill would require a two-thirds vote of the Legislature to increase any taxes instead of a simple majority.

Each bill must be approved in the Senate and by the Democrat-led Assembly before they could go to Gov. Andrew Cuomo’s desk for signing into law.

(Copyright 2011 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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