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.
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