NY Lawmakers Will Consider Increased Taxes On Certain Items

NEW YORK (AP) –New York’s Legislature will consider taxes at its next public hearing on Gov. Andrew Cuomo’s proposed budget.

The legislative hearings will look at a few measures to raise taxes on loose tobacco and on cigars proposed by Cuomo.

Some legislators also seek propose more taxes as the state’s revenues continue to fall below projections.

But the biggest tax issue was taken care of in December. That’s when Cuomo and the Senate’s Republican majority reversed their campaign promises and approved the Assembly’s millionaire tax.

That adds $2 billion to Cuomo’s budget and uses some of it for a modest but rare tax break about $200 to $400 for most middle class families.

The budget hearing on taxes is Monday in Albany.

(Copyright 2012 by The Associated Press. All Rights Reserved.)


One Comment

  1. DanTe says:

    Now why won’t he increase taxes on his million dollar trust funds or his millionaire girlfriend?

  2. None Of Your Business says:

    Instead of constantly raising taxes, why doesn’t the government cut spending? Oh, ha ha, excuse me, it’s the government, it never cuts spending. Raising taxes on goods increases the price of the goods to where fewer people will be making purchases. That does not necessarily translate into higher tax revenues. No one seems to understand that if you lower prices, more people will be buying goods, more goods will be sold, and revenues will increase. Example: some years ago, in the days of home video VHS tapes, a great brain at Paramount Pictures discovered that when the price of the tapes was lowered, more people bought them and sales increased. Wow!!

  3. adam j. mack says:

    ”New york lawmakers will consider increase taxes on the next meeting.”

Comments are closed.

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