Next Wednesday, both houses of the legislature are due to release their one house budget proposals, which they will then use to negotiate a final spending plan with Governor Cuomo. Assembly Speaker Sheldon Silver, in an interview with NYS-PBS's New York Now and public radio stations, says Assembly Democrats are not yet on board with part of Cuomo’s plan to cut the estate tax.
There’s growing unease over Governor Cuomo’s tax freeze plan. 100 local government officials have signed a letter opposing the plan, and there are signs that the legislature may modify what critics have called an overly complex proposal when the Senate and Assembly release their one house state budgets.
100 local government leaders have now signed a letter opposing the Governor’s tax freeze plan. And the lobby groups for the state’s counties, cities, and school boards are voicing numerous concerns. Tim Kremer is with the State School Boards Association.
Governor Cuomo is starting a new push for his property tax freeze plan, while counties in the state say they have a better idea, which they say could result in lower property taxes in New York for even longer.
Cuomo has begun a new campaign, to promote his multi-part property tax freeze plan. It’s aimed at enlisting the aid of the public to help convince the legislature. A video features average homeowners and advocacy groups endorsing his plan.
“Lower our property taxes,” say various people identified as homeowners and standing in front of suburban looking homes.
Assembly Democrats were passing a one house version of the Dream Act, a bill to give college aid to the children of undocumented immigrants. They urged the Senate to follow suit.
Assembly Speaker Sheldon Silver, who calls the Dream Act a top priority, blamed opposition among Senate Republicans for the measure’s failure to advance in the upper chamber. And he says the break away Independent Democrats in the Senate, who are in a coalition government with the GOP, need to work to bring the bill to the floor for a vote.
Governor Cuomo’s plan to cut the estate tax is drawing praise from fiscally conservative groups, and condemnation from advocates for the poor.
Cuomo’s proposal would raise the threshold for New York’s estate tax from the current one million dollars to five and a quarter million dollars, which is the current federal rate of taxation. EJ McMahon, with the fiscally conservative think tank The Empire Center calls the levy the “death tax”. He says it’s about time New York got in synch with the rest of the country, where many states have already eliminated the tax altogether.