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The budget is getting later by the minute, but Albany lawmakers have now finalized some of the stickier parts of the more than $200 billion spending plan that is now five days behind schedule.
Easter afternoon, legislative sources confirmed a tentative agreement includes a big bump on tax rates for the state’s highest earners and some corporations, a step that is
estimated to raise about $4.3 billion in revenue. They’re also hoping to include an additional $500 million that mobile sports betting could eventually rake in.
The increases would start for filers who report making more than $1 million, and would continue with two new brackets of high earners: Those making more than $5 million and those making more than $25 million.