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.)