NY taxes

(AP Photo/Mike Groll)

The issue of whether to tax the wealthiest New Yorkers at a higher rate is once again a topic at the State Capitol. Assembly Democrats are out with a tax plan that would redistribute some tax revenue from the richest to the poorest New Yorkers.

When Governor Cuomo and legislative leaders announced a new rebate check for property taxpayers, they touted it as a significant “real” benefit to average homeowners. But fiscal watchdog groups say the program is severely flawed, and the money could be better used on something else. 

Taxes and tax reform are likely to be a major topic in the next legislative session in New York.  Progressive groups and Republicans in the State Senate are weighing in.

Democratic Governor Andrew Cuomo of New York recently appointed a new commission to look at cutting property and other taxes. The commission is headed by former Republican Governor George Pataki and former Democratic state Comptroller Carl McCall. Both are former political rivals of Cuomo.  

New York Governor Andrew Cuomo is appointing a new tax cutting commission that includes former political rivals. The governor charged it with finding ways of slicing state revenues by $2-3 billion dollars next year.