Monday, April 21, 2014

News
New York State budget called a tax cutter


ALBANY, N.Y. (AP) - New York's budget that will start to be voted into law this weekend is based on lawmakers' power to stop a sunset.

Two sunsets, in fact.

Gov. Andrew Cuomo and the Legislature are stopping the scheduled expiration of a temporary income tax increase on millionaires and delaying one on a big utility tax on businesses.

In legislative speak, those expirations are called sunsets.

So, while Cuomo and lawmakers call it a tax-free, business- and family-friendly budget, critics are swift to point out it contains what are in effect tax hikes. And, they say, they're getting done a full year before any of the leaders has to think about getting re-elected.

Those who pushed for the budget note the tax extensions were needed to pay for other coveted programs.

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